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German consumer price inflation at 6-month high

Staff Writer |
German consumer prices increased for a third straight month in July and at a fastest pace in six months, preliminary data from Destatis showed.

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The flash consumer price index rose 0.4 percent year-on-year following 0.3 percent increase in June. Economists had expected the inflation rate to remain unchanged.

The latest annual inflation figure was the highest since January, when it was 0.5 percent. Energy prices declined 7 percent and food prices increased 1.1 percent.

Germany's unemployment declined more-than-expected in July and the jobless rate held steady at the lowest level since reunification, despite heightened uncertainty from Brexit.

Separate official data showed that consumer prices increased for a third straight month in July and at the fastest pace in six months. Both headline inflation and the EU measure rose to 0.4 percent.

The number of people out of work fell by 7,000 from the previous month to 2.68 million in July, the Federal Labor Agency said Thursday. Economists had forecast a decrease of 4,000.


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