In Germany, inflation rose surprisingly despite the weakened economy. According to the Federal Statistical Office, consumer prices in June were 0.9 percent higher than in the same month last year. Compared to May this year, the experts even recorded an increase of 0.6 percent. Prices for food such as fruit and vegetables, as well as for services and rents, have increased in recent months.
In May the inflation rate dropped to its lowest level in almost four years. The main reason was the massive drop in energy prices as a result of the Corona crisis. The pandemic-related global economic downturn had depressed the oil price in the past few weeks and thus also slowed inflation.
The statisticians also noticed this effect in June: the consumption price for energy was 6.2 percent below the previous year's level. However, the energy price was not as cheap as in May at 8.5 percent.
On the other hand, food such as fruit and vegetables became more expensive by an average of 4.4 percent. Services cost 1.4 percent more, with rents rising by 1.4 percent. Goods rose 0.2 percent overall after a decline of 0.4 percent in May.
The European Central Bank sees an inflation rate of just under two percent as ideal for the economy, but has failed to achieve this goal for the euro area for years.