Germany, CPI report for June:
- the inflation rate in Germany came at +6.4% y/y, slightly higher than the previous month's rate of +6.1%.
- Food prices remained the biggest driver of inflation, with a y/y increase of +13.7%.
- Energy product prices rose by 3.0% y/y, influenced by factors such as the Russian attack on Ukraine and government relief measures.
- Core CPI: Excluding energy and food, the inflation rate was +5.8%.
- Goods prices increased by 7.3% y/y, mainly driven by non-durable consumer goods (+8.8%).
- Service prices rose by 5.3% y/y, with net rents and the introduction of the Germany ticket affecting price developments.
The inflationary pressure in the largest economy of the EU remains high. Inflation came in line with expectations but at a higher level compared to the previous month. The higher data from Germany strongly supports the continuation of the interest rate hike cycle by the ECB.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
EURUSD ticks higher after the publication, M15 interval, source xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
