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Inflation rate at +6.2% in July 2023
The inflation rate in Germany, measured as the year-on-year change in the consumer price index, stood at +6.2% in July 2023. In June 2023, the inflation rate was +6.4%. "The rate of inflation has fallen slightly but remains at a high level", says Ruth Brand, President of the Federal Statistical Office. She adds: "Especially the development of food prices continues to have an upward effect on inflation. In addition, the increase in energy prices was again somewhat larger than in the two previous months. The abolishment of the EEG surcharge with effect from 1 July 2022 created a base effect here." The Federal ... (full story)