Germany's EU harmonized inflation remained unchanged in July, but was slightly below economists' forecast, data released by the Federal Statistical Office showed Friday.
The harmonized index of consumer prices (HICP) increased 2 percent on an annual basis in July, unchanged from the growth seen in June. Economists were looking for an inflation rate of 1.9 percent.
Month-on-month, the HICP grew 0.4 percent in July, recovering from June's 0.2 percent decrease. The latest growth rate matched economists' expectations.
At the same time, the consumer price index increased 1.7 percent year-on-year in July, as it did in the previous month. The inflation rate was in line with economists' forecast.
Month-on-month, consumer prices moved up 0.4 percent as expected by economists, reversing the previous month's 0.1 percent decline.
by RTT Staff Writer
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