As estimated in June

German consumer inflation picks up

Higher prices for food and holiday travel have slightly increased the national inflation in June.

July 14, 2017

German consumer prices rose by an average of 1.6 percent in June, the Federal Office for Statistics revealed on Thursday. The European Central Bank defines its overall inflation goal to ensure price stability as “below, but close to 2 percent“.

The figure compared to inflation rate increases of 1.5 percent in May and 2 percent in April. Wholesale prices climbed 2.5 percent year-on-year in June, slower than the 3.1 percent increase seen in May; the weakest since November 2016, when prices gained 0.8 percent.

Wholesale prices of ores and metals increased 6.8 percent and prices of waste and residuals surged 21 percent. Meanwhile, fruits and vegetable prices dropped 3 percent. Milk products experienced the steepest increase in cost, with butter prices rising by 59.9 percent year on year. (LEW)

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