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Inflation in Germany unexpectedly accelerated to 8.5% in July


Júl, 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 is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.