Germany's inflation confirmed at 1.3% for May

Thursday, 13. June 2019 08:04

The consumer price index that Germany's Destatis calculates using European Union methodology increased 0.3% last month and 1.3% on an annual scale. The report published on Thursday reveals the preliminary findings were confirmed after inflation came in at 1% and 2.1% in April, respectively. The European Central Bank's annual target is just below 2%.

The domestic monthly measure advanced 0.2% in May alone and 1.4% year over year compared to the previous month's 1% and 2%, respectively. The Federal Statistical Office from Wiesbaden pointed to the drop in prices of holiday packages, by 9% from the same month of 2018, and the slowdown in the rise in airline tickets to 1.4% from 6.1%.

Core inflation, which excludes food and energy, came in at zero in the reporting month and 1.3% against 12 months before.

Related Links: 
Breaking the News / IT