US EditionGerman inflation dips to cooler-than-expected 1.8% in July
GERMANY, JUL 31 – The 0.1% contraction in Germany's GDP was driven by falling U.S. export demand, manufacturing declines, and reduced investments, despite rising private and government consumption, Destatis reported.
- German inflation remained unchanged at 2% in July, according to preliminary data from federal statistics agency Destatis.
- The inflation rate was higher than the 1.8% expected by analysts polled by FactSet.
- Prices increased by 0.3% compared to the previous month, according to Destatis.
- Germany, as the euro zone's largest economy, accounts for about a quarter of its GDP.
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Consumer prices in Germany rose at an unchanged pace in July. As in June, goods and services are on average 2.0 percent more expensive than a year ago.
German Inflation Declines: Economic Implications and Market Reactions
German inflation fell more than expected in July to 1.8% year-on-year, indicating easing price pressures in Europe's largest economy. Analysts predicted a slight decline to 1.9%. The data precedes the euro zone inflation report, projecting a decrease to 1.9% for the region. Core inflation remained at 2.7%.
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Coverage Details
Total News Sources52
Leaning Left10Leaning Right4Center7Last UpdatedBias Distribution48% Left
Bias Distribution
- 48% of the sources lean Left
48% Left
L 48%
C 33%
R 19%
Factuality
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