German CPI prints lower than expected in July

FXStreet (Mumbai) - The preliminary data released by the Destatis revealed the inflation as measured by the consumer price index (CPI) rose 0.2% year-on-year, compared to the expectation of 0.3%. The CPI stood at 0.3% in June.

Month-on-month CPI printed at 0.2%, slightly lower than the expected rise to 0.3% from the 0.2% contraction seen in June. The Harmonised Index of Consumer Prices (HICP) printed in line with the estimates at 0.3% month-on-month and 0.1% year-on-year.

The slowdown in the inflation is mainly due to the sharp drop in the household energy and motor fuels prices (-6.2%).