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8/10, 8:02 AM (Source: TeleTrader)
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German inflation confirmed at 7.5% in July

Consumer prices in Germany rose 7.5% in July compared to the same month last year, the Federal Statistical Office (Destatis) said on Wednesday, thus confirming its provisional estimate.

Destatis noted that energy prices, which soared 35.5%, contributed most to the high inflation rate and noted that the 9-euro ticket and the fuel discount relief measures had a slight downward impact on the index. Food prices rose 14.8% year on year and prices of goods jumped 14.1%.

On a monthly basis, consumer prices in Europe's largest economy rose 0.9%. The harmonized index of consumer prices for Germany increased by 8.5% from July last year and gained 0.8% month on month.

Baha Breaking News (BBN) / NP