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Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Inflation in Germany in May slowed to the lowest since February 2022

May, 31 2023
watermark Economic news

According to preliminary data from the German Federal Statistical Office, consumer prices harmonized with the standards of the European Union in May increased by 6.3% year-on-year.


Thus, inflation slowed significantly compared to 7.6% in April. Experts on average predicted an increase of 6.7%. 


On a monthly basis, consumer prices fell by 0.2% in May, which is the first decline in five months. In April, this indicator increased by 0.6%.


Prices calculated according to German standards increased by 6.1% year-on-year in May, the lowest pace since March 2022, due to a slowdown in price growth in all categories.


In particular, food prices rose by 14.9% (in April – by 17.2%), energy – by 2.6% (6.8%), services increased in price by 4.5% (4.7% in April). The final data on the dynamics of inflation for May will be released on June 13.


The EUR/USD pair reacted to the report with moderate growth: from the level of 1.0659 to 1.0738.


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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.
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.