Germany’s CPI inflation rate 2.3% in Jul; consumer prices up 0.3% MoM

Germany’s CPI inflation rate stood at 2.3 per cent in July, Destatis said.
The rate of change was 2.2 per cent YoY in June and 2.4 per cent YoY in May.
“Decreases in energy prices, in particular, are having a dampening effect on the rate of inflation,” said Destatis president Ruth Brand.
The prices of clothing increased by 4 per cent YoY in July.