PARIS (Reuters) – German inflation, calculated according to European standards, accelerated unexpectedly in July, according to preliminary data published on Tuesday by the Federal Statistical Office.
The consumer price index, in its HICP version, which allows comparison between eurozone countries, came out at 2.6% over one year in July, against a consensus of 2.5% among analysts and after a rise of 2.5% recorded in June.
On a monthly basis, inflation also accelerated by 0.5% in July after a rise of 0.2% in June, while the consensus was +0.4%.
Core inflation, which excludes volatile items such as food and energy prices, came in at 2.9% in July, unchanged from the previous month.
By German standards, inflation in July stood at 2.3% year-on-year and 0.3% month-on-month, after increases of 2.2% and 0.1% respectively in June.
Monthly inflation data for the eurozone as a whole will be released on Wednesday.
On the financial markets, the pan-European Stoxx 600 maintained its gains, gaining 0.48%, and the Dax index on the Frankfurt Stock Exchange advanced by 0.45%.
The euro is at 1.082 dollars, practically stable (0.01%).
(Written by Claude Chendjou, edited by Kate Entringer)
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