German Inflation Reaches Historic High of 7.9% in May

MOSCOW (Sputnik) - Inflation in Germany accelerated from 7.4% to 7.9% in May year-on-year, beating the record set in April, the Federal Statistical Office (Destatis) said on Tuesday.
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The final estimates by Destatis coincided with the preliminary forecast published late last month and the forecast of analysts polled by the DailyFX portal.
Consumer prices grew by 0.9% in May, against 0.8% in April, also coinciding with the rates projected by Destatis and analysts.
The Harmonized Index of Consumer Prices, the measurement preferred by the European Central Bank, accelerated growth in May to 8.7% year-on-year, against 7.8% in April. Prices rose by 1.1% in May, against 0.7% in April. These figures also matched analysts' preliminary forecasts.
Destatis publishes inflation data with subsequent updates every month.
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