Harmonised German CPI slows in June, as expected
Consumer prices in Germany slipped in June, as a decline in the cost of services more than offset inflationary pressures in goods.
According to the Federal Office of Statistics, the year-on-year rate of gains in headline CPI dipped from 2.2% for May to 2.1% in June.
Versus the year-earlier period, prices for services slowed from a 1.9% rate of advance to 1.5%, while that for goods accelerated from 2.5% to 2.8%.
Energy costs also picked-up alongside, from a 5.1% clip to 6.4%, while rent price inflation was unchanged at 1.6%.
On a harmonised basis, CPI was ahead by 0.1% month-on-month and by 2.1% year-on-year, just as expected by economists.