German inflation falls in June

12th July 2004, Comments 0 comments

12 July 2004 , WIESBADEN - Germany's annual inflation rate in June dipped to 1.7 percent, from 2.0 percent in May, officials reported Monday, helping to ease some of the pressure on the European Central Bank as it weighs up its next monetary move.

12 July 2004

WIESBADEN - Germany's annual inflation rate in June dipped to 1.7 percent, from 2.0 percent in May, officials reported Monday, helping to ease some of the pressure on the European Central Bank as it weighs up its next monetary move.

The figure represents a 0.1 percent downward revision of the statistics office's original estimate made last month.

The office said that from month to month, there was no rise in the cost of living for private households from May to June, but that oil prices continued to be an inflationary factor.

It said that domestic fuel prices rose 14.4 percent on June 2003 levels, while motor fuel prices were up 6.5 percent.

Excluding petroleum products, Germany's annual inflation in June would have been just 1.5 percent, the office said.

In the so-called harmonised price index used for comparisons with other European countries, annual inflation in June was 1.9 percent, unchanged from the previous month, the office said. This final figure confirmed the estimate made in late June.

 

DPA

Subject: German news

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