Economic Buzz: German Consumer Price Inflation Slows To 7.5% In July

10 Aug 2022 , 02:20 PM

Germany consumer price inflation slowed to 7.5 percent from 7.6 percent in June, final data from Destatis showed on Wednesday. Although the rate of inflation was slightly down again, it remained at a high level clearly above 7 percent. Energy product prices were by 35.5 percent higher than in the same month a year earlier, following a 38.0 percent increase in June. At the same time, food prices gained 14.8 percent, which was the fifth consecutive rise. Excluding energy and food, inflation was 3.2 percent, not even half the overall inflation rate. Compared to the previous month, overall consumer prices gained 0.9 percent in July, as estimated, after a 0.1 percent increase in June. The harmonized index of consumer prices, or HICP, rose 8.5 percent year-on-year, following an 8.2 percent increase in June. Month-on-month, the HICP gained 0.8 percent, in contrast to the 0.1 percent fall in June.Powered by Commodity Insights