10.08.201003:12:00UTC+00German Inflation Rises To 1.2%

German consumer price inflation picked up to 1.2% in July from 0.9% in June, the Federal Statistical Office said on Tuesday. This is slightly higher than the preliminary estimate of 1.1%.

Inflation is still well within the 2% upper limit, meaning inflationary pressures are contained. Compared with June, consumer prices increased 0.3%, faster than the 0.1% rise in the preceding month.

The statistical office said the rise in inflation was driven by higher prices of mineral oil products, fresh fruit and vegetables. Excluding energy and seasonal food, the inflation rate stood at 0.6% in July.

Meanwhile, the harmonized index of consumer prices rose 1.2% in July from a year earlier. Compared with June, the index was up 0.3%.

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