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Business

German inflation nudges back up in June

FRANKFURT AM MAIN: Inflation in Germany regained ground in June after falling steeply through months of lockdown for...

Updated Jun 30 2020

FRANKFURT AM MAIN: Inflation in Germany regained ground in June after falling steeply through months of lockdown for Europe's top economy, as intense talks over EU-wide economic stimulus loom.

Price growth rebounded to 0.9 percent year-on-year this month, statistics authority Destatis said in preliminary figures, beating analyst expectations. The measure had fallen from 1.7 percent in February - before the coronavirus struck - to 0.6 percent last month.

Goods inflation picked back up into positive territory again in June after plummeting in March and April, in part due to a global oil glut sapping energy prices. Meanwhile price growth for food and services including rent remained relatively steady.