Increased once again the annual inflation in Germany in July due to higher energy prices as announced by the statistical office Destatis. Consumer prices rose 0.4% on a monthly basis and 2.4% annually according to final data confirming the initial estimates were made public last month and the forecast of economists polled by Dow Jones Newswires. Inflation in Germany is moving upward throughout the course of 2011 more than 2%. The European Central Bank has based its decisions on interest-rate policy in shaping the inflation just below 2%. As in previous months, inflation in July rose due to energy prices, which strengthened 10.6% over the corresponding month of 2010, while food and non-alcoholic beverages rose 2.7%. The harmonized inflation, based on the EU stood at 0.5% in the month and 2.6% in the year.
This news post was written by Chris on August 10, 2011