German inflation rises slightly

Source: Xinhua| 2017-08-11 18:09:11|Editor: ZD
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BERLIN, Aug. 11 (Xinhua) -- German consumer prices rose 1.7 percent in July from a year earlier, the highest level since April, figures released on Friday by the Federal Statistical Office show.

It was the second consecutive monthly rise. The consumer price index rose 0.4 percent in July from the previous month of June.

Energy prices rose 0.9 percent between July 2016 and July 2017, well below the average inflation rate and thus dampening overall pressure on consumer prices. In contrast, the cost of food items jumped by 2.7 percent. Butter was 64 percent more expensive than a year ago.

Net rental costs (excluding heating) is up 1.8 percent.

The European Central Bank defines its overall annual inflation goal for the Eurozone as "below, but close to 2 percent." Despite widespread signs of a strengthening recovery across the currency bloc, central bankers currently do not forecast worrying increases in consumer prices. The most recent average inflation rate for the Eurozone was measured at 1.3 percent.

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