Germany's annual inflation for June confirmed at 2%

By Mucahithan Avcioglu

ISTANBUL (AA) - Germany's consumer price index (CPI) in Germany was at 2% in June on a yearly basis, confirming preliminary data, according to final official data released on Thursday.

The figure was down from 2.1% in May, its lowest level since last October, the Federal Statistical Office (Destatis) data showed.

CPI was at 2.1% in April and 2.2% in March, down from a 14-month high of 2.6% in December.

The markets and Destatis had expected the figure to come in at 2% in June.

A significant fall in energy prices drove the overall easing in annual inflation. The price of energy products saw a drop of 3.5% in June year-on-year.

Meanwhile, above-average climbs in services and food prices continued to drive up inflation with rises of 3.3% and 2%, respectively.

The inflation rate excluding food and energy, often called core inflation, was at 2.7% in June on an annual basis, also down from 2.8% in May.

Compared to May, consumer prices were stable in June on a monthly basis, easing from 0.1% in May, also matching preliminary data