Germany: Inflation decelerates in May from April
Latest reading: Harmonized consumer prices rose 2.7% on a year-on-year basis in May, following a 2.9% increase in the prior month.
Relative to the prior month’s data, there were milder price pressures for food and non-alcoholic beverages (+1.0% in annual terms vs +1.7% in April), transportation (+6.2% vs +7.1% in April), housing and utilities (+0.8% vs +0.9% in April) and restaurants and hotels (+2.6% vs +3.5% in April). In contrast, price pressures were higher for recreation in May (+2.4% vs +1.2% in April).
Meanwhile, consumer prices were up 2.6% in May, following a 2.9% increase in the previous month.
Lastly, harmonized consumer prices were down 0.13% in May in month-on-month terms, following a 0.56% rise in the previous month.