Germany's inflation accelerated in July to the highest level since 2008, mainly due to the base effect, flash data from Destatis revealed on Thursday.
Separate official data showed that the unemployment declined more-than-expected in July as employers hired more staff following the easing of COVID-19 restrictions.
Inflation based on the harmonized index of consumer prices, which is meant for EU comparison, advanced to 3.1 percent from 2.1 percent in June. This was the highest since 2008 and well above economists' forecast of 2.9 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.