Germany: Zero inflation recorded in July
Harmonized consumer prices dropped 0.47% over the last month in July, swinging from June’s 0.66% increase. July’s result marked the sharpest fall in prices since January. The print reflected falling prices for all categories, except for restaurants and hotels, and recreation and culture. The drop in prices for food and non-alcoholic beverages, and clothing and footwear was particularly strong.
Meanwhile, inflation flatlined in July, down from June’s 0.9% increase. July’s result marked the lowest rate since May 2016. Annual average inflation ticked down to 1.0% in July (June: 1.1%).