Germany – Inflation remains stubbornly high
The decline in the inflation rate in Germany has probably come to an end for the time being.
Commerzbank Economic Research
07/30/2024
The disinflation process in Germany is proving to be more drawn out than some might have expected. After all, the year-long downward trend in the inflation rate had come to an end in spring. Since then, the inflation rate has been moving sideways at around 2¼%, rising again slightly from 2.2% to 2.3% in July. It is currently still being held down by the frequently volatile prices of food and energy. If these two sub-components are excluded, the core inflation rate was significantly higher at 2.9%, which was unchanged from the month ago.
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