Germany's annual inflation eases to 6.2% in July

By Tuba Ongun

ANKARA (AA) – Germany's annual consumer inflation eased to 6.2% in July from 6.4% in June, according to a flash estimate released on Friday.

Core inflation, excluding food and energy, is projected at 5.5% in July, versus 5.8% last month, the Federal Statistical Office (Destatis) data showed.

Food prices rose 11% year-on-year in July, following a 13.7% jump in June.

The cost of energy, on the other hand, accelerated to 5.7% annually, due to a base effect caused by a decline in July 2022, Destatis noted.

On a monthly basis, Germany's consumer price index rose 0.3% in July.