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

According to the final data of the German Federal Statistical Office (Destatis), inflation in the country slowed in May to the lowest since February 2022.

The harmonized index of consumer prices, which meets EU standards, increased by 6.3% year-on-year, which indicates a decrease in the rate of inflation compared with 7.6% in April. These data correspond to the preliminary assessment and forecasts of analysts.

In May, consumer prices fell by 0.2% compared to the previous month after rising by 0.6% in April. 

By German standards, prices increased by 6.1% year-on-year and decreased by 0.1% month-on-month. 

Food products have risen in price by 14.9%, energy – by 2.6% compared to May last year. If these categories are not taken into account, consumer prices in Germany increased by 5.4%.