Germany: Harmonized inflation declines to lowest level since February 2021 in July
Latest reading: Harmonized inflation came in at 1.8% in July, which was down from June’s 2.0%. July’s figure represented the lowest inflation rate since February 2021. Looking at the details of the release, prices for transportation rose at a slower pace while prices for recreation fell. That said, price pressures for food and non-alcoholic beverages rose.
Annual average harmonized inflation remained at June’s 2.3% in July. Meanwhile, consumer price inflation was steady, coming in at June’s 2.0% in July.
Finally, harmonized consumer prices increased 0.30% in July over the previous month, picking up from the 0.08% increase logged in June.