German inflation confirmed at 1.1% for July

Tuesday, 13. August 2019 08:03

Germany's statisticians measured a major disparity between the movement in consumer prices according to domestic methodology and the data harmonized for European purposes. As package holidays are calculated differently, inflation strengthened to 1.7% last month from 1.6%, reaching the highest mark since April, while the other gauge slumped to 1.1% or 0.4 percentage points. It was last seen lower in November 2016. The findings were the same as in the preliminary report.

The consumer price index rose by 0.5% in July alone against a 0.4% gain in harmonized terms. The energy item outperformed with 2.4% year over year though it declined from June's 2.5% and retreated 0.2% in the reporting month. Core inflation, which excludes food and energy prices, came in at 0.6% for July only, growing by 0.1 points, and at a flat 1.6% on an annual basis.

Separately, Destatis said wholesale prices dropped 0.3% last month and 0.1% from 12 months before. In June they fell 0.5% and increased by 0.3%, respectively.

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