LAST UPDATE 15:22
Inflation in Germany fell sharply in June, the first month in which the effects of government measures to ease high fuel prices were included, according to data released today.
According to preliminary data from Destatis, consumer prices stood at 7.6% on an annual basis, compared to the 8% expected by economists.
In May the prices had reached 7.9%, which was the highest level since December 1973.
Consumer prices, harmonized with the EU, fell to 8.2% from 8.7% in May, according to the Federal Statistical Office.
Analysts expected German (harmonized) inflation to reach 8.8% in June.
Since the day of Russia’s invasion of Ukraine, energy prices have risen sharply and have had a significant impact on high inflation, Destatis said.
Energy prices rose 38% in June on an annual basis. Food prices rose above average, by 12.7% year on year.
Source: Capital
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