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German Inflation Accelerates As Estimated In July

Germany's consumer price inflation accelerated to a three-month high in July, final data from Destatis showed Friday.

Inflation, based on consumer prices, grew 1.7 percent annually, slightly faster than the 1.6 percent increase registered in June. This was the fastest since April and came in line with the flash estimate published on July 28.

Excluding food and energy prices, the inflation rate came in at 1.7 percent.

Food prices rose 2.7 percent, slower than the 2.8 percent rise in June. Meanwhile, energy prices climbed 0.9 percent after stabilizing a month ago.

On a monthly basis, inflation doubled to 0.4 percent, as estimated, from 0.2 percent in June. Prices have increased for the second straight month.

At the same time, the harmonized index of consumer prices climbed again by 1.5 percent annually. The index advanced 0.4 percent on month. Both monthly and annual figures matched the preliminary estimate.

by RTTNews Staff Writer

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