Germany: Inflation inches up from lowest level in over four years in June
June 27, 2014
In June, consumer prices rose 0.3% over the previous month, according to preliminary data released by the Federal Statistics Office (Destatis) on 27 June. The reading contrasted the 0.1% drop registered in May and overshot the 0.2% increase the markets had expected.
Annual headline inflation ticked up from 0.9% in May—an over-four-year low—to 1.0% in June. Annual average inflation, however, inched down from 1.4% in May to 1.3% in June, which marked a 40-month low.
Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) rose from 0.6% in May to 1.0% in June. Annual average HICP inflation edged down from 1.3% in May to 1.2% in June.
Author: Ricardo Aceves, Senior Economist