Germany Inflation Rises In June

Germany’s consumer price inflation accelerated as initially estimated in June, final data from Destatis showed Thursday.

Consumer prices advanced 1.6 percent year-on-year in June, faster than the 1.4 percent increase in May. The annual rate came in line with the estimate published on June 27.

An annual increase of 6.1 percent in package holiday prices was the major factor raising inflation in June. Food prices grew at a below average rate of 1.2 percent.

On a monthly basis, consumer prices gained 0.3 percent, as expected, after rising 0.2 percent in May.

Meanwhile, the statistical office raised the EU harmonized inflation for June to 1.5 percent from 1.3 percent. The inflation rate was 1.3 percent in May.

Month-on-month, the harmonized index of consumer prices gained 0.3 percent versus the initial estimate of 0.1 percent.

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