Germany's annual inflation rises to 2.3% in July

By Tuba Ongun

ANKARA (AA) — Germany's annual consumer inflation rose to 2.3% in July, according to flash data released on Wednesday.

The figure increased from 2.2% in June, driven by rising food prices and a slowdown in the decline of energy prices, according to Destatis data.

The annual decrease in energy prices moderated to 1.7% in July, compared to a 2.1% decrease in the previous month.

Food prices rose by 1.3% year-on-year in July, up from a 1.1% increase in June.

Core inflation, which excludes food and energy prices, remained stable at 2.9%.

On a monthly basis, consumer prices increased by 0.3% in July.