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German inflation slows far more sharply than expected in June

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German annual consumer prices harmonised to compare with other European countries rose by 0.1 per cent in June, climbing much less sharply than forecast, preliminary data from the federal statistics office showed on Monday.

[BERLIN] German annual consumer prices harmonised to compare with other European countries rose by 0.1 per cent in June, climbing much less sharply than forecast, preliminary data from the federal statistics office showed on Monday.

That was the weakest reading since February and was far below the European Central Bank's inflation target for the broader eurozone of just below 2 per cent over the medium term.

The Reuters consensus forecast had been for harmonised prices to increase by 0.4 per cent on the year after they rose by 0.7 per cent in May.

The statistics office said it would publish final consumer price data for June on July 14.

REUTERS