German June CPI confirmed at 2.2%

(Sharecast News) - German inflation was confirmed at 2.2% in June, down from 2.4% in May, the federal statistics agency said on Thursday. On a harmonised basis to compare with other European Union countries, consumer prices eased to 2.5% on the same month a year earlier, up 0.2% on the previous month.

"Energy and food prices have had a dampening effect on overall inflation since the beginning of the year," said Ruth Brand, President of the Federal Statistical Office (Destatis).

"By contrast, we continue to see above-average increases in service prices," Brand adds. Compared with May 2024, consumer prices were up by 0.1% in June 2024.

Reporting by Frank Prenesti for Sharecast.com