Germany's annual inflation remains at 6.2% in July

By Gokhan Ergocun

ISTANBUL (AA) — Germany's annual inflation rate was at 6.2% in July, unchanging with June's data, federal statistical office Destatis announced on Tuesday.

Ruth Brand, the president of the office, underlined that inflation remains at a high level, with the development of food prices especially continuing to have "an upward effect on inflation."

As main driver in inflation, food prices increased 11% on a yearly basis last month, down from 13.7% in June.

Destatis added: "In particular, consumers had to pay markedly more for sugar, jam, honey and other confectionery (+18.9%).

"There were also considerable year-on-year price increases for bread and cereals (+16.6%), vegetables (+15.7%) and fish, fish products and seafood (+14.1%)."

Excluding energy prices, annual inflation in Germany was 5.5% in July.

The monthly inflation rate was also at 0.3% in July.