US EditionGerman inflation eases to 2.0% in June, defying forecasts
- Germany's annual inflation rate fell to 2% in June, aligning with the European Central Bank's target, according to preliminary data from statistics office Destatis.
- Analysts had predicted a higher inflation rate of 2.2% for the twelve months to June, but the consumer price index had previously been at 2.1% in May, according to a poll by Reuters.
- Franziska Palmas from Capital Economics stated that the new data would likely please the European Central Bank, which is expected to cut rates one more time.
- Carsten Brzeski noted that external factors, including volatile oil prices, significantly influence the disinflation trajectory in the euro zone.
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German inflation falls unexpectedly, hitting ECB target
Germany’s annual inflation rate fell in June to 2%, in line with the European Central Bank’s target, preliminary data showed. The new reading for Europe’s largest economy reflected a broader easing across the continent — a positive sign for the central bank as it weighs further rate cuts this year.“Overall, it’s safe to say that the days of high inflation are over for now,” Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, told Der …
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Leaning Left5Leaning Right1Center3Last UpdatedBias Distribution56% Left
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C 33%
11%
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