German inflation at 1.2 percent in May: data

10th June 2010, Comments 0 comments

German inflation accelerated in May owing to a pickup in the cost of energy, official figures showed Thursday.

Inflation in the biggest European economy was confirmed at 1.2 percent on an annualised basis, up from 1.0 percent in April, the Destatis statistics office said.

It cited "the above-average development of energy prices," which gained 4.9 percent on the year with mineral oil products and motor fuels showing even sharper increases.

Food prices also rose for the third consecutive month, gaining 1.3 percent, Destatis said.

On a monthly basis, the consumer price index gained 0.1 percent from April, it added.

© 2010 AFP

0 Comments To This Article