Germany's Annual Inflation Slightly Down In July

The annual inflation rate in Germany slightly declined in July, standing at 7.5% despite remaining at a high level clearly above 7%, according to official estimates released on Wednesday. In June, the figure was 7.6%.

"The main reason for the high inflation still is price rises for energy products. Two measures of the relief package have had a slight downward effect on the overall inflation rate since June: The 9-euro ticket and the fuel discount," federal statistical office Destatis said.

"Additional factors are again delivery bottlenecks due to interruptions in supply chains and marked price increases at upstream stages in the economic process," it added.

Energy product prices increased 35.5% year-on-year despite relief measures higher than in the same month a year earlier, following a 38% increase in June.

Food prices were up for the fifth month in a row at 14.8% in July.

Meanwhile, on a monthly basis consumer went up 0.9% in July from 0.1% in June. -