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Germany confirms June inflation at 2.3% as core stays at 2.5%
Final data show energy price inflation easing to 3.4% year over year in June from 6.6% in May, while services inflation remains sticky at 3.1%.
Germany’s final consumer inflation numbers for June were confirmed in line with the preliminary estimates, with headline annual inflation at 2.3% and core inflation holding at 2.5%, according to Forexlive.
The report said the slowdown in the headline rate partly reflects less intense energy price gains, with energy inflation rising 3.4% year over year in June, down from 6.6% in May, and compared with 10.1% in April.
Food prices also increased more modestly, rising 0.4% in June, the outlet said, contributing to the unchanged headline figure.
While the ECB can take some comfort from improving energy dynamics, Forexlive cautioned that services inflation remains firm at 3.1% in June, and it pointed to ongoing fragility in the Middle East that could affect the inflation outlook.