Tags: German | Inflation | Rises

German Inflation Rises to 1.2 Percent In July

Tuesday, 10 Aug 2010 08:11 AM

Government data show that Germany's annual inflation rate increased to 1.2 percent in July — equaling the highest level yet this year due to pressure from higher prices for oil, fruit and vegetables.

The Federal Statistical Office on Tuesday revised upward its preliminary estimate of 1.1 percent. It said consumer prices were up 0.3 percent compared with June.

The annual rate was up from 0.9 percent in June and matched May's 1.2 percent, this year's highest. Inflation has hovered around 1 percent for months and shows little sign of breaking out of that range.

The European Central Bank has kept its benchmark interest rate at 1 percent since May 2009. Tame inflation in the 16-nation eurozone's biggest economy reinforces expectations it won't raise rates soon.

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Economy
Government data show that Germany's annual inflation rate increased to 1.2 percent in July equaling the highest level yet this year due to pressure from higher prices for oil, fruit and vegetables. The Federal Statistical Office on Tuesday revised upward its preliminary...
German,Inflation,Rises
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2010-11-10
Tuesday, 10 Aug 2010 08:11 AM
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