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6/29, 2:01 PM (Source: TeleTrader)
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Germany's inflation slows to 7.6% in June

Consumer prices in Germany are expected to observe an annual rise of 7.6% in June, below analysts' expectations, the country's Federal Statistical Office (Destatis) said in its preliminary report published on Wednesday. On a monthly basis, the figure went up by 0.1%.

The Consumer Prices Harmonized Index came provisionally in at 8.2% year-on-year. On the other hand, on a monthly level, it saw a slight decline of 0.1%.

The prices of energy surged by 38.0% in comparison to the same month the previous year, while those of food advanced by 12.7%. The document cited Russia's military intervention in Ukraine, the ongoing COVID-19 pandemic, and the issues with the supply chain for the continued rise of prices.

Baha Breaking News (BBN) / JR