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German inflation unchanged in July but stronger than expected

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German inflation unchanged in July but stronger than expected

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BERLIN (Reuters) – German consumer inflation held steady in July but was stronger than expected, driven by a surge in food prices, data showed on Friday. Consumer prices, harmonised to compare with other European countries (HICP), rose by 1.5 percent on the year, matching the inflation rate in June, the Federal Statistics Office said. A Reuters poll had pointed to inflation easing to 1.4 percent on the year. On the month, prices increased by 0.4 percent – more than the 0.3 percent rise forecast in a Reuters poll. A breakdown of non-harmonised data showed the increase was caused by a sharp increase in food prices in particular, but prices in all other categories – rents, goods, services and energy – also rose.

(Reporting by Michelle Martin, editing by Thomas Escritt)
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