Data released by the German Federal Statistical Office showed that consumer price inflation in Germany in July reached 6.2 percent year-on-year. In June, the annual inflation rate was 6.4 percent.
According to the Census Bureau, although the inflation rate has declined slightly, it remains at a high level as the evolution of food prices in particular continues to affect inflation upwards. In addition, the increase in energy prices was again somewhat larger than in the previous two months. This means that inflation has been a burden on consumers in Germany for months, eroding their purchasing power.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
