German inflation beats forecasts with June rise
2023.06.29 08:41
© Reuters. FILE PHOTO: Christmas shoppers wear mask and fill Cologne’s main shopping street Hohe Strasse (High Street) during the spread of the coronavirus (COVID-19) pandemic in Cologne, Germany, 12, December, 2020. REUTERS/Wolfgang Rattay/File Photo
BERLIN (Reuters) – German inflation rose more than expected in June, interrupting a steady decline since the start of the year and suggesting a bumpy road ahead.
German consumer prices, harmonised to compare with other European Union countries, rose by a more-than-anticipated 6.8% on the year in June, preliminary data from the German statistics office showed on Thursday.
By comparison, inflation fell sharply in Spain to 1.6% and to 6.7% in Italy. French inflation data is due on Friday.
Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month.
Compared to May, prices increased by 0.4% in EU-harmonized terms, the office added.
Analysts had expected harmonised data to increase by 0.3% on the previous month and grow by 6.7% on an annual basis.
The statistics office offers a breakdown on its website.
