German inflation falls slightly in July
By Frank Prenesti
Date: Wednesday 10 Aug 2022
(Sharecast News) - German inflation fell slightly in July to 7.5%, confirming initial estimates, according to official data released on Wednesday.
The figure compared with the 7.6% recorded in June, and reflected the impact of government interventions.
"The main reason for the high inflation still is price rises for energy products. Two measures of the relief package have had a slight downward effect on the overall inflation rate since June: The 9-euro ticket and the fuel discount," federal statistical office Destatis said.
"Additional factors are again delivery bottlenecks due to interruptions in supply chains and marked price increases at upstream stages in the economic process," it added.
Energy product prices increased 35.5% year-on-year despite relief measures higher than in the same month a year earlier, following a 38% increase in June. Food prices were up for the fifth month in a row at 14.8% in July.
Reporting by Frank Prenesti at Sharecast.com
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