Inflation rate increase in Germany during May
reported Mehr News Agency, citing Reuters, Germany’s Federal Statistical Office on Wednesday confirmed preliminary data and announced that the inflation rate in this country during the month of > It has seen growth due to the increase in the price of services.
Germany’s consumer price index, adjusted for the rest of the EU, rose 2.8 percent in May from a year earlier. This index increased by 2.4% in April compared to the same period last year.
Ruth Brand, the head of the German Federal Statistics Office said: the inflation rate has increased slightly again. which is mainly due to the continued increase in the price of services.
According to this report, the cost of services increased by 3.4% in April, in May. It was 3.9 percent more than the same month last year. A year-on-year comparison of these figures shows a significant acceleration, which can be partially attributed to the end of the base effect after the introduction of the National Plan for Cheap Rail Travel in (May 2023 ) attributed.
Brand said: On the contrary, energy and food prices have had a decreasing effect on overall inflation since the beginning of the year.
The price of energy carriers in this Germany is 1.1% compared to (May 2023) decreased while food prices increased by 0.6 percent and the food inflation rate was recorded significantly lower than the general inflation rate. Core inflation, which strips out volatile food and energy prices, was 3 percent in May, unchanged from April.
