Core inflation, excluding volatile components such as food and energy, is forecast to reach 5.8% in June, up from 5.4% in May.
Germany’s inflation rate is projected to hit 6.4% in June 2023, up from 6.1% in May 2023, according to the Federal Statistics Office. Core inflation is expected at 5.8%, up from 5.4%. Despite a 3% increase in energy prices, the overall increase in inflation was lower due to high energy prices in June 2022.
The energy sector has seen a rise in prices, but at 3% the rate is lower than the year-to-date change in the overall index. The relatively low rate of energy price inflation is due to the underlying effect arising from high prices in June 2022. Energy prices rose sharply in March 2022 following Russia’s attack on Ukraine, according to Destatis .
Fiber2Fashion (DP) News Desk
