Germany's inflation slows in June

By Tuba Ongun

Germany's consumer inflation rate cooled in June after rising a month earlier thanks to an acceleration in energy cost declines, according to provisional data released on Monday.

Consumer prices climbed 2.2% at an annual pace in June, after May's 2.4% rise, Destatis data showed.

The price of energy fell 2.1% year-on-year in June, following a 1.1% fall in the prior month. Food inflation, on the other hand, accelerated to 1.1% from 0.6% in the same period.

Core inflation, stripping out food and energy, was expected to come in at 2.9% last month.

On a monthly basis, Germany's Consumer Price Index gained 0.1% in June.