German inflation rate stays above ECB's goal in June

Source: Xinhua | 2018-06-29

German inflation rate in June was expected to stay above the European Central Bank's goal of just below 2 percent, according to data published by the Federal Statistical Office on Thursday.

Based on the results available so far, the inflation rate as measured by the consumer price index was expected to be 2.1 percent in June, slightly down from May's 2.2 percent.

It was the second straight month for the Europe's largest economy to hold inflation rate above ECB's target.

According to the figures, the main driving force for the rising consumer price index came from the most volatile prices of house energy and motor fuels, which experienced a surge of 6.4 percent in the reported month. Last month, the energy prices rose by 5.1 percent.

In June, food prices increased by 3.4 percent, slightly eased from last month's 3.5 percent.