Germany's EU harmonized inflation accelerated more than economists expected in May, preliminary data released by the Federal Statistical Office showed Wednesday.
Inflation As per the harmonized index of consumer prices (HICP) accelerated to 1.7 percent in May from 1.1 percent in April. Economists had forecast a more modest rise to 1.4 percent.
The HICP advanced 0.3 percent compared to April, when it decreased by 0.5 percent. The EU measure of consumer prices were forecast to gain 0.2 percent month-on-month.
At the same time, the consumer price index increased 1.5 percent year-on-year in May, faster than April's 1.2 percent growth. Expectations were for a 1.3 percent rise.
Month-on-month, consumer prices rose 0.4 percent in May after falling 0.5 percent in the previous month. Economists were looking for a 0.2 percent monthly gain.
For comments and feedback: editorial@rttnews.com