Germany's yearly inflation rate decreases in July| MENAFN.COM

Sunday, 25 September 2022 05:31 GMT

Germany's yearly inflation rate decreases in July


(MENAFN) The yearly inflation level in Germany marginally dropped last month, reaching 7.5 percent regardless of staying at a peak rate noticeably higher than 7 percent, as shown by official estimates issued on Wednesday. In June, the number stood at 7.6 percent.

Federal statistical office Destatis statd that "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."

Adding "Additional factors are again delivery bottlenecks due to interruptions in supply chains and marked price increases at upstream stages in the economic process."

Energy output costs surged 35.5 percent annually regardless of relief measures greater than in the same month a year before, after a 38 percent surge two months ago.

Food costs were increased for the fifth consecutive month reaching 14.8 percent in July.

In the meantime, on a month-on-month basis consumer saw a jump of 0.9 percent last month from 0.1percent in the month before.

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