Inflation in Germany accelerated to 6.8% in June

According to preliminary data from the German Federal Statistical Office, consumer prices in the country, harmonized with the standards of the European Union, increased by 6.8% in June compared to last year. 

Thus, inflation accelerated compared to 6.3% in May. The average forecast of analysts assumed a 6.7% price increase. In June, consumer prices also increased by 0.4% compared to the previous month, while in May they decreased by 0.2%.

Prices calculated only by German standards also rose in June – by 6.4% YoY after a 6.1% increase in May. 

Core inflation (excluding the cost of food and energy) also accelerated and amounted to 5.8%, compared with 5.4% in the previous month. Food prices rose by 13.7% (in May – by 14.9%), the cost of energy increased by 3% (2.6%), services – by 5.3% (4.5% in May).

The final data on the dynamics of inflation for May will be published on July 11.