Germany’s consumer price inflation slowed in June for the first time in six months, preliminary data from Destatis showed Tuesday.
The consumer price index rose 2.3 percent year-on-year following a 2.5 percent increase in May, which was the highest rate in nearly a decade. Economists had forecast 2.4 percent.
Energy inflation slowed to 9.4 percent from 10.0 percent. Food inflation eased to 1.2 percent from 1.5 percent. Services costs rose 1.6 percent after a 2.2 percent climb in the previous month.
Compared to the previous month, the CPI rose 0.4 percent in June after a 0.5 percent increase in May. That was in line with economists’ expectations.
The harmonized index of consumer prices, which is meant for EU comparison, rose 2.1 percent year-on-year after a 2.4 percent climb in the previous month.
On a month-on-month basis, the HICP rose 0.4 percent in June. Economists had expected 0.3 percent.