Germany's annual inflation stable in May at 2.1 percent
FRANKFURT
Consumer prices in Germany rose 2.1 percent in May on a yearly basis, in line with expectations, according to official data released on June 13.
The figure was also stable from 2.1 percent in April, its lowest level since last October, the Federal Statistical Office (Destatis) data showed.
The figures were at 2.2 percent in March and 2.3 percent in January and February, down from a 14-month high of 2.6 percent in December.
The markets and Destatis had expected the figure to rise 2.1 percent on an annual basis in May.
A significant fall in energy prices drove the overall easing in annual inflation. The price of energy products saw a decline of 4.6 percent in May year-on-year.
Meanwhile, above-average increases in service and food prices continued to drive up inflation with increases of 3.4 percent and 2.8 peercent, respectively.
The inflation rate excluding food and energy, often referred to as core inflation, also rose 2.8 percent in May on an annual basis.
Compared to April, consumer prices climbed 0.1 percent in May on a monthly basis, also in line with market forecasts.
