German final CPI m/m contracts in June

FXStreet (Mumbai) - German inflation contracted month-on-month in June, the final CPI reading from the German Federal Statistical Office (Destatis) revealed on Tuesday.

On a monthly basis, consumer prices in Germany fell 0.1% in June, while forecasts based on preliminary results had been for a 0.1% increase. Back in May, the gauge rose 0.1% on the same basis.

Year-on-year, CPI rose 0.3% in June, the final reading showed, confirming the preliminary reading. In May, the gauge added 0.7%, reaching the highest level in seven months.