09.07.201003:24:00UTC+00German Annual Inflation Slows In June

German consumer price annual inflation slowed to 0.9% in June from 1.2% in May, final data from the Federal Statistical Office showed on Friday. The rate is still well below the threshold of 2%, which is important for monetary policy, the statistical office said.

On a monthly basis, consumer prices edged up 0.1%. The statistical office, thus confirmed the initial estimate published on June 28.

Annual growth in overall consumer prices was largely driven by energy prices. Food prices were above the level of a year earlier by 1.2%. On average, prices of goods were up 1% in June and that of services rose 0.8%.

Further, data showed that the harmonized index of consumer prices for Germany, which is calculated for European purposes, rose 0.8% in June from the prior year. Compared with May, the index remained unchanged. The HICP estimate for June was also confirmed.

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