https://sputnikglobe.com/20230711/annual-inflation-in-germany-in-june-accelerates-to-64-from-61---statistical-office-1111809764.html
Germany Reveals Hike in Annual Inflation in June to 6.4%
Germany Reveals Hike in Annual Inflation in June to 6.4%
Sputnik International
Annual inflation in Germany accelerated from 6.1% in May to 6.4% in June, following a three-month slowdown, the German Statistical Office (Destatis) said on Tuesday.
2023-07-11T09:49+0000
2023-07-11T09:49+0000
2023-07-11T12:33+0000
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In monthly terms, consumer prices grew by 0.3% in June, as forecast, with food accounting for the biggest increase. "The rate of inflation therefore increased slightly again after slowing for three months in a row," President of Destatis Ruth Brand said. The Harmonized Index of Consumer Prices (HICP), a measure of inflation in the European Union, jumped 0.4% higher than in May and amounted to 6.8% year-on-year. The HICP’s final assessment coincided with the provisional assessment as well. Germany, along with other EU member states, has been up against accelerating inflation as part of the post-pandemic global economic recession. The situation further exacerbated by the barrage of anti-Russian sanctions that resulted in a disruption of supply chains that led to raging energy crisis in Western economies.
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Germany Reveals Hike in Annual Inflation in June to 6.4%
09:49 GMT 11.07.2023 (Updated: 12:33 GMT 11.07.2023) MOSCOW (Sputnik) - Germany's annual inflation jumped from 6.1% in May to 6.4% in June, following a three-month slowdown, the nation's Federal Statistical Office (Destatis) said on Tuesday.
In monthly terms, consumer prices grew by 0.3% in June, as forecast, with food accounting for the biggest increase.
"The rate of inflation therefore increased slightly again after slowing for three months in a row," President of Destatis Ruth Brand said.
The Harmonized Index of Consumer Prices (HICP), a measure of inflation in the European Union, jumped 0.4% higher than in May and amounted to 6.8% year-on-year. The HICP’s final assessment coincided with the provisional assessment as well.
Germany, along with other EU member states, has been up against accelerating inflation as part of the post-pandemic global economic recession. The situation further exacerbated by the barrage of anti-Russian sanctions that resulted in a disruption of supply chains that
led to raging energy crisis in Western economies.
