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6/14, 8:00 AM (Source: TeleTrader.com)
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German inflation rises 2.2% in May

Inflation in Germany as measured by the consumer price index (CPI) rose 2.2% in May compared to the same month a year earlier, a report released by the Federal Statistical Office (Destatis) on Thursday showed, confirming the provisional results released last month. Compared to the previous month, consumer prices were 0.5% higher.

Energy prices contributed most to the increase as they jumped 5.1% year-on-year with heating oil and motor fuel prices soaring 24.3% and 8.2%, respectively. Food prices climbed 3.5% compared to the same month in 2017, while services advanced 1.9%. Total goods prices rose by 2.5%.

The harmonized index of consumer prices for Germany increased by 2.2% compared to May last year and gained 0.6% month-on-month.

Breaking the News / NP