Germany's
Federal Statistical Office (Destatis) reported on Monday the country’s consumer
price index (CPI) is estimated to inch up 0.1 per cent m-o-m in June, the same
pace as in May.
On a y-o-y
basis, Germany’s CPI is seen to rise 2.2 per cent in June, following a 2.4 per cent soar in the
previous month.
Economists had predicted
CPI would increase by 0.2 per cent m-o-m and by 2.3 per cent y-o-y in June.
According to
the report, energy prices dropped by 2.1 per cent y-o-y this month, following a decrease of 1.1 per cent y-o-y in May.
Meanwhile, the food prices surged 1.1 per cent y-o-y after a gain of 0.6 per cent y-o-y in the previous month. The
services costs surged by 3.9 per cent y-o-y, the same pace as in the previous month.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is estimated to advance by 0.2 per cent m-o-m and by 2.5 per cent
y-o-y.
Economists had expected increases of 0.2 per cent m-o-m and 2.6 per cent y-o-y for June. In May, the German HICP rose by 0.2
per cent m-o-m and 2.8 per cent
y-o-y.