Inflation in Germany in June expectedly accelerated to 6.8%

According to the final data of the German Federal Statistical Office (Destatis), consumer prices, harmonized according to EU standards, increased by 6.8% in annual terms in June. 

This means an acceleration in inflation compared to the previous month, when it was 6.3%. These final data coincided with the preliminary assessment and forecasts of experts.

On a monthly basis, consumer prices in the country rose by 0.4% after a 0.2% decline in May. 

Inflation by German standards also accelerated, amounting to 6.4% year-on-year in June, compared with 6.1% in May. Energy prices in Germany increased by 3%, the cost of food increased by 13.7%, and services rose by 5.3%.

In monthly terms, this indicator increased by 0.3% compared to May, when it decreased by 0.1%. Preliminary data on the dynamics of inflation in Germany for July will be published on July 28.