Arab Today, arab today german inflation higher again in may
Last Updated : GMT 09:27:54
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German inflation higher again in May

Arab Today, arab today

Arab Today, arab today German inflation higher again in May

The inflation index had risen
Frankfurt - AFP

Inflation in Germany, Europe's biggest economy, crept higher in May with consumer prices rising by 0.7 percent year-on-year, final data showed on Tuesday.

The index had risen in April by 0.5 percent on a 12-month basis, the federal statistics office Destatis said in a statement.

Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany also rose by 0.7 percent  year-on-year in May, still way under the ECB's annual inflation target of just below two percent.

The final data confirm a preliminary estimate published earlier this month and appear to indicate that the ECB's monetary policy measures are slowly beginning to push up inflation.

In March, the ECB embarked on a massive trillion euro ($1.1 trillion) bond purchase programme to ward off deflation and end stagnation in the eurozone economy.

 

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