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Inflation in Germany unexpectedly accelerated to 8.5% in July


July, 28 2022
watermark Economic news

According to the German Federal Statistical Office (Destatis), consumer prices harmonized with EU standards increased by 8.5% in annual terms in July. Thus, the inflation rate in the country accelerated compared to 8.2% in June. Analysts had expected inflation to slow to 8.1%.


On a monthly basis, consumer prices rose 0.8% in July after a 0.1% decline in June. Experts on average predicted their growth by 0.4%.


Consumer prices, calculated only by German standards, increased by 7.5% y/y and 0.9% m/m. Analysts expected prices to rise by 7.4% and 0.6%, respectively. In June, the growth was 7.6% and 0.1%.


In particular, the cost of energy in Germany increased by 35.7% y/y (38% in June), food prices rose by 14.8% (12.7% in June), services – by 2% (2.1% in June).



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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.