Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

German Consumer Prices Climb Unexpectedly Strongly in July

07/29/2021 | 08:28am EDT

By Maria Martinez

German consumer prices rose strongly in July, according to preliminary data released by the German statistics office Destatis on Thursday.

Consumer prices rose 3.8% on year measured by national standards, more than the 3.3% forecasts by economists polled by The Wall Street Journal. They rose 3.1% on year by European Union-harmonized standards, slightly above the 3.0% forecast of economists polled by The Wall Street Journal.

The increase in the inflation rate is mainly due to the base effect of a temporary VAT cut in the previous year, the statistics office said.

Consumer prices rose 0.9% on month by national standards, beating the 0.5% forecasts of economists polled by The Wall Street Journal. Prices increased 0.5% by EU-harmonized standards, in line with forecasts.

The price collection problems caused by the pandemic in the previous months were less severe in July, as the shop-based retail business and food service and accommodation establishments were largely reopened or could offer their services again, Destatis said.

Final results will be released on August 11.

Write to Maria Martinez at maria.martinez@wsj.com

(END) Dow Jones Newswires

07-29-21 0827ET

Latest news "Economy & Forex"
10:28aBritain tells its food industry to prepare for CO2 price shock
RE
10:28aToronto index eyes best day in two months as commodities rally
RE
10:22aWhite House backs plan for renewable energy industry tax partnerships
RE
10:15aU.S.-listed China Online Education's 51talk asked to carry out rectifications
RE
10:14aEvergrande domestic debt deal calms immediate contagion concern
RE
10:12aNigeria sees 2022 oil production of 1.88 mln bpd, GDP growth of 4.2%
RE
10:12aMEDIA ADVISORY - OECD 2021 MINISTERIAL COUNCIL MEETING (AUTUMN SESSION) : 5 - 6 October
PU
10:08aIndia, UAE plan to lift bilateral trade to $100 billion in 5 years via new pact
RE
10:06aSoaring gas prices ripple through heavy industry, supply chains
RE
10:04aVC DAILY : Indian Ed-Tech Startup Boosts U.S. -2-
DJ
Latest news "Economy & Forex"