German inflation confirmed at 2.2% in June - Breaking The News

German inflation confirmed at 2.2% in June

11 July

1 min read

EPA-EFE/FILIP SINGER

The annual inflation rate in Germany came in at 2.2% in June, matching the provisional estimate, the Federal Statistical Office Destatis said in its final report on Thursday. Month on month, the Consumer Price Index (CPI) rose 0.1%, in line with the preliminary reading.

Year-over-year, energy prices were down by 2.1% despite the discontinuation of the brake on energy prices. Food prices increased by 1.1% in June. Annual core inflation, excluding food and energy, rose 2.9% in June, matching the figure from the initial report.

"Energy and food prices have had a dampening effect on overall inflation since the beginning of the year," President of the Federal Statistical Office Ruth Brand noted, adding on the opposite trend the institution “continue to see above-average increases in service prices."

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