German Economy Minister Robert Habeck underscored on Wednesday that the latest inflation print demonstrates that the rate is still "too high," but that "measures" to reduce it are having an "effect."
Speaking at the German Savings Banks Association's (DSGV) event in Hanover, the the economy minister pointed out that country's economy is in "technical recession" and that the recovery will happen "gradually" this year.
The annual inflation rate in Germany slowed in May, arriving at 6.1%, falling from the 7.2% registered in April.
