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- Germany’s CPI declines in July
Germany’s CPI declines in July
Germany's
Federal Statistical Office (Destatis) reported on Thursday the country’s
consumer price index (CPI) is expected to decrease 0.5 m-o-m in July after increasing
0.6 percent m-o-m in the previous month. This represents the biggest monthly decline since January.
On the y-o-y
basis, Germany’s inflation rate is seen to edge down 0.1 percent this month,
following a 0.9 percent advance in June.
Economists had
predicted inflation would drop 0.2 percent m-o-m but increase 0.2 percent y-o-y
in July.
According to
the report, food price growth decelerated to 1.2 percent y-o-y in July from 4.4
percent y-o-y in June, while energy prices fell 6.7 percent y-o-y after a 6.2 percent
y-o-y drop in the previous month. Services costs rose 1.2 percent y-o-y in July,
following a 1.4 percent y-o-y gain as in June.
Meanwhile, the
harmonized index of consumer prices for Germany (HICP), which is calculated for
European purposes, is expected to fall 0.5 percent m-o-m and to be flat y-o-y.
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