Germany: Inflation rises in June
Harmonized consumer prices increased 0.66% over the last month in June, following flatlining in May. June’s result marked the sharpest increase in prices since April 2019. The print was driven by pricier energy products amid rising oil prices. This offset a notable drop in prices for clothing and footwear due to seasonal discounts.
Inflation rose to 0.9% in June, up from May’s 0.5% print. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.1% in June (May: 1.2%).