German inflation picks up fractionally: stats office

[FRANKFURT] Inflation in Germany accelerated fractionally in June, buoyed by rising food prices and shallower declines in energy prices, final data showed on Tuesday.

The federal statistics office, Destatis, calculated that Germany's national inflation yardstick, the consumer price index, rose by 0.3 per cent in June, slightly faster than the 0.1 per cent recorded for Europe's biggest economy in the previous month.

Using the Harmonised Index of Consumer Prices (HICP) - the barometer used by the European Central Bank - the inflation rate edged up to 0.2 per cent in June from 0.1 per cent in May, Destatis said in a statement.

The data confirm a preliminary estimate released at the end of June.

AFP