1-MIN READ

German inflation stagnates in July amid coronavirus pandemic

German inflation stagnates in July amid coronavirus pandemic

German annual inflation came to a standstill in July due to the coronavirus pandemic, posting its weakest reading in more than four years, preliminary data for Europe's largest economy showed on Thursday.

  • Reuters
  • Last Updated: July 30, 2020, 5:50 PM IST
Share this:

BERLIN German annual inflation came to a standstill in July due to the coronavirus pandemic, posting its weakest reading in more than four years, preliminary data for Europe’s largest economy showed on Thursday.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, stagnated year-on-year after rising by 0.8% in the previous month, the Federal Statistics Office said.

The reading compared with a Reuters forecast for 0.4% and was the lowest since May 2016.

On the month, EU-harmonised prices fell by 0.5% in July. A Reuters poll had predicted a drop of 0.2%.

Also Watch

Civil Aviation Min Hardeep Singh Addresses Media, Says 'Must Wait For Probe To Be Completed'

The European Central Bank has a target of keeping inflation close to but below 2% in the euro zone.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

  • Tags:
  • First Published: July 30, 2020, 5:50 PM IST
Next Story
Loading