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Financial News: Germany's Inflation Accelerates As Estimated In May

Germany's Inflation Accelerates As Estimated In May

06/14/2018 - 02:20:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation accelerated, as initially estimated, on energy prices in May, final data from Destatis showed Thursday.

Consumer prices climbed 2.2 percent year-on-year in May, faster than the 1.6 percent increase in April but in line with the estimate published on May 30. The last time the inflation rate reached this level was in February 2017.

EU harmonized inflation also accelerated to 2.2 percent in May from 1.4 percent in April. This was in line with preliminary estimate.

The rise in the inflation rate was mainly due to energy prices. Excluding energy prices, the inflation rate in May was 1.8 percent.

On a monthly basis, consumer prices advanced 0.5 percent in May versus nil growth in April. At the same time, the harmonized index of consumer prices gained 0.6 percent. Both CPI and HICP figures came in line with flash estimate.

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