German inflation confirmed at 2.6% in July

9th Aug 2024 07:47

(Sharecast News) - German inflation rose to 2.6% in July, according to official data published on Friday, confirming flash data.

Consumer prices in Europe's biggest economy, harmonised to compare with other European Union countries, had risen by 2.5% year-on-year in June.

"Decreases in energy prices in particular are dampening the inflation rate," said Ruth Brand, President of the Federal Statistical Office.

"In contrast, we continue to observe above-average price increases for services," Brand continued.

Compared with June 2024, consumer prices rose by 0.3% in July 2024.

Reporting by Frank Prenesti for Sharecast.com