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German inflation rate at +2.3% in July 2024
The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +2.3% in July 2024. The rate of change was +2.2% in June 2024 and +2.4% in May 2024. "Decreases in energy prices, in particular, are having a dampening effect on the rate of inflation," says Ruth Brand, President of the Federal Statistical Office (Destatis). "By contrast, we continue to see above-average increases in service prices," Brand adds. Compared with June 2024, consumer prices were up by 0.3% in July 2024. The prices of energy products in July 2024 declined by 1.7% year on year (June 2024: -2.1%). ... (full story)
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- Posted: Aug 9, 2024 2:23am
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