German Inflation Reaches Historic High of 7.9% in May
© Photo : PixabayEuros
© Photo : Pixabay
MOSCOW (Sputnik) - Inflation in Germany accelerated from 7.4% to 7.9% in May year-on-year, beating the record set in April, the Federal Statistical Office (Destatis) said on Tuesday.
The final estimates by Destatis coincided with the preliminary forecast published late last month and the forecast of analysts polled by the DailyFX portal.
Consumer prices grew by 0.9% in May, against 0.8% in April, also coinciding with the rates projected by Destatis and analysts.
The Harmonized Index of Consumer Prices, the measurement preferred by the European Central Bank, accelerated growth in May to 8.7% year-on-year, against 7.8% in April. Prices rose by 1.1% in May, against 0.7% in April. These figures also matched analysts' preliminary forecasts.
Destatis publishes inflation data with subsequent updates every month.