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German inflation moves closer to ECB target, revised data shows

German inflation moves closer to ECB target, revised data shows
FILE PHOTO: People carry their shopping bags in downtown Hamburg, Germany, January 25, 2018. REUTERS/Fabian Bimmer/File Photo -
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Fabian Bimmer(Reuters)
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BERLIN (Reuters) – German annual inflation accelerated to 1.5% in June, remaining below the European Central Bank’s target, final data from the Federal Statistics Office showed on Thursday.

The reading for German consumer prices – harmonised to make it comparable with inflation data from other European Union countries – was revised up after preliminary data released at the end of June had shown prices increased by 1.3% year-on-year.

The ECB targets inflation of close to but below 2% for the euro zone as a whole.

On the month, EU-harmonised prices rose by 0.3% – revised up from 0.1%.

(Reporting by Michelle Martin; Editing by Tassilo Hummel)

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