Consumer prices in June: inflation rate rises to 0.9 percent

The German Inflation rose in spite of the Corona-crisis in June as a surprise. The inflation rate climbed to 0.9 from 0.6 percent in the previous month, as the

Consumer prices in June: inflation rate rises to 0.9 percent

The German Inflation rose in spite of the Corona-crisis in June as a surprise. The inflation rate climbed to 0.9 from 0.6 percent in the previous month, as the Federal Statistical office announced on Monday. In may, she was still at the lowest level since September of 2016. Economists had expected an unchanged level. The European Central Bank looks at a value of just under two per cent as great for the economy, the target for the Euro-space for years.

The global economic downturn as a result of the Corona pandemic has pushed the price of Oil in recent weeks and, consequently, the Inflation slowed down. Energy price statistics show that in June, within a year, to 6.2 percent – but this is as strong as in may, with 8.5 percent. The effect of falling Oil prices on Inflation had come to an end, said Helaba expert Ralf circulation in a first reaction to the data. Foods such as fruits and vegetables became more expensive, however, once again, far above the average of 4.4 percent. Services cost of 1.4 percent, where the apartment rent 1.4 per cent rose. Were increased by a total of 0.2 percent, after a decline of 0.4 percent in may.

According to the statisticians could come closer to the inflation rate in the next few months, more of the zero mark should be given for the temporary reduction of VAT in full to consumers.

Updated Date: 29 June 2020, 11:20

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