Germany's July Inflation Remains Steady at 2 Percent
(MENAFN) Germany’s annual inflation rate remained steady at 2% in July, in line with preliminary estimates, data from the Federal Statistical Office (Destatis) confirmed Wednesday. The figure matched June's rate, which was the lowest recorded since October last year.
July’s inflation stability follows a gradual cooling trend, with the consumer price index (CPI) at 2.1% in both May and April, and 2.2% in March. The pace has slowed notably from December’s 14-month high of 2.6%.
Energy prices continued their sharp year-on-year decline in July, falling by 3.4%, easing pressure on overall inflation.
However, inflationary forces remain persistent in key categories. Services and food prices posted above-average increases, rising 3.1% and 2.2% respectively, continuing to drive underlying price growth.
Core inflation, which strips out volatile food and energy costs, held firm at 2.7% on an annual basis in July, unchanged from June.
On a month-to-month basis, consumer prices edged up 0.3% in July, rebounding from flat growth in June. This increase was also consistent with preliminary readings.
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