Germany's EU harmonized inflation weakened modestly in May, while economists expected it to remain unchanged, data released by the Federal Statistical Office showed Tuesday.
The harmonized index of consumer prices (HICP) increased 2.1 percent on an annual basis in May, slower than the 2.2 percent growth seen in April. Economists expected inflation to remain unchanged.
Month-on-month, the HICP decreased 0.3 percent in May, reversing the previous month's 0.1 percent gain. Economists expected prices to remain flat month-on-month.
At the same time, consumer price inflation slowed to 1.9 percent in May from 2.1 percent in April. Economists were looking for an inflation rate of 2.1 percent In May.
Compared to April, consumer prices decreased 0.2 percent in May, while economists expected prices to remain flat. In April, consumer prices edged up 0.1 percent month-on-month.
by RTT Staff Writer
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