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- Consumer prices in Germany rose in line with expectations in June
Consumer prices in Germany rose in line with expectations in June
According to the report from Federal Statistical Office (Destatis), сonsumer prices in Germany rose 1.6% in June 2019 compared with June 2018. In May 2019, it had been +1.4%. Compared with May 2019, the consumer price index rose by 0.3% in June 2019. Destatis thus confirms its provisional overall results for the CPI. The provisional results of 27 June 2019 regarding the harmonised index of consumer prices (HICP) are corrected upwards by the final results.
Energy product prices rose 2.5% from June 2018 to June 2019. The increase in energy prices thus was smaller than in May 2019 (+4.2%).
The higher inflation rate in June 2019 was caused in particular by package holiday prices rising again (+6.1%; May 2019: -9.0%). Food prices rose below average (+1.2%) from June 2018 to June 2019. However, the price increase accelerated slightly on the previous month (May 2019: +0.9%). The prices of goods (total) were 1.5% higher in June 2019 than in the same month a year earlier. The prices of services rose more strongly year on year (+1.9%) in June 2019.
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