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German May inflation confirmed back above zero

Xinhua, June 10, 2016 Adjust font size:

Germany's annual inflation returned to above-zero territory in May as downward pressure of energy prices eased, German federal statistics office Destatis said on Friday.

Compared with the same month of 2015, German consumer price index (CPI) increased by 0.1 percent in May, following a decrease of 0.1 percent in April, Destatis said, confirming its preliminary calculations late last month.

A 7.9 percent drop of energy prices continued to dampen the overall inflation as in preceding months, according to Destatis. However, the downward pressure was easing as the year-on-year price decrease had slowed for three months in a row.

Excluding energy, German inflation would have been 1.2 percent.

Measured with the harmonized index of consumer prices (HICP), the European Union's yardstick, German annual inflation also rebounded to zero in May from minus 0.3 percent in April.

Destatis said despite the recovery in May, German inflation remained on a low level.

The European Central Bank regards an inflation rate of "below, but close to" 2 percent as healthy. In May, the euro zone inflation also increased slightly, but remained at negative territory. Endit