Germany Inflation Rate Confirmed at 0.8% in July


German annual inflation rate eased to 0.8 percent in July of 2014 from 1 percent in the previous month and matching preliminary estimate from July 30th.

Compared with the same month last year, food prices rose just 0.1 percent. Cost of meat and meat products increased 0.3 percent, prices of fruit declined 4.8 percent and prices of  alcoholic beverages and tobacco products increased 1.9 percent.

Energy prices as a whole were down 3.1 percent in July of 2014 with cost of premium gasoline and diesel fuel falling by 2.4 percent and 4.9 percent respectively.

Costs of  health care rose 2.4 percent and prices of services up 2.0 percent. Higher costs of housing, water, electricity, gas and other fuel  were seen with a 0.9 percent, while prices of clothing and shoes were up 0.8 percent. Costs of education declined 2.7 percent compared to July of 2013.
 
On month, consumer prices rose by 0.3 percent. Price increases were observed for package holidays (+11.6 percent); health care (+0.7 percent) and  and meat products (+0.4 percent).
 
The harmonised index of consumer prices (HICP) rose by 0.8 percent in July of 2014 over the same month last year, marking the third time of the index below 1 percent this year. Compared with the previous month, the index was up 0.43 percent in July of 2014. The HICP estimates were thus confirmed.

Germany Inflation Rate Confirmed at 0.8% in July


DESTATIS l Rida l rida@tradingeconomics.com
8/13/2014 9:57:09 AM