YEREVAN, June 27, /ARKA /. Inflation in Germany, Europe’s biggest economy, slowed to 1.7 percent in June, the lowest level for 18 months, owing to falling fuel prices, RIA Novosti reported citing preliminary data on Wednesday.
The previous month, the annual rate of inflation in Germany had stood at 1.9 percent. On a monthly basis, the cost of living in Germany declined by 0.1 percent in June from May, the national statistics office Destatis said in a statement.
Using the Harmonised Index of Consumer Prices, the ECB’s inflation yardstick, the cost of living in Germany rose 2.0 percent on a 12-month basis in June, also slower than 2.2 percent seen in May.
The ECB defines price stability as increases in HICP of close to but just below 2.0 percent.
Preliminary inflation data are calculated using consumer price data for six of Germany’s 16 federal states. Final data, based on statistics for all 16 states, are scheduled to be published on July 11.
The Federal Statistical Office of Germany (Destatis) is a federal authority of Germany. It is a part of the Federal Ministry of the Interior of the Federal Republic of Germany. The Office is responsible for collecting, processing, presenting and analyzing statistical information concerning the topics economy, society and environment. The purpose is providing objective, independent and highly qualitative statistical information for the whole public. About 2,780 staff members are employed in the departments in Wiesbaden, Bonn and Berlin. -0-
