Inflation in Germany rose to 6.4% in June: energy costs are weighing on

German inflation accelerated in June. According to the final estimate, Inflation rate Germany jumped year on year to 6.4% last month from 6.1% in May. The consumer price index increased by 0.3% compared to the previous month. This was announced by the German Statistical Institute. Both numbers are in line with analyst expectations. Thus the annual inflation rate in Germany is good Above the ECB’s target of around 2%. Inflation suffered Energy acceleration (3% vs. 2.6%), mainly due to last year’s lower base impact, particularly for solid fuels (26.6%), natural gas (20.8%), electricity (10.5%), and district heating (9.3%).

Inflation of goods and services

Service inflation also rose (5.3% vs. 4.5%), With rents rising by 2% After an increase of 1.9% in April. Overall commodity inflation slowed to 7.3% from 7.7%, supported by a slight increase in the cost of food (13.7% vs 14.9%), led by dairy products (22.3%) and from bread, sugar, jam, honey and other sweets (19.4%). The harmonized consumer price index with respect to other European countries increased by 6.8% year-on-year and by 0.4% month-on-month.