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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.