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Inflation in Germany in June expectedly accelerated to 6.8%

July, 11 2023
watermark Economic news

According to the final data of the German Federal Statistical Office (Destatis), consumer prices, harmonized according to EU standards, increased by 6.8% in annual terms in June. 


This means an acceleration in inflation compared to the previous month, when it was 6.3%. These final data coincided with the preliminary assessment and forecasts of experts.


On a monthly basis, consumer prices in the country rose by 0.4% after a 0.2% decline in May. 


Inflation by German standards also accelerated, amounting to 6.4% year-on-year in June, compared with 6.1% in May. Energy prices in Germany increased by 3%, the cost of food increased by 13.7%, and services rose by 5.3%.


In monthly terms, this indicator increased by 0.3% compared to May, when it decreased by 0.1%. Preliminary data on the dynamics of inflation in Germany for July will be published on July 28.


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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.