German inflation fell to 2.4% in June from 2.7% the previous month, according to preliminary data from the national statistics office.
Analysts had forecast the EU-harmonised consumer price index to come in at 2.5%. Core inflation, which excludes volatile items such as food and energy, stayed unchanged from the previous month at 2.5%.
The German data comes ahead of the euro zone inflation release. Inflation in the bloc is expected to come in at 3.0% in June, down from 3.2% the previous month.
The European Central Bank raised interest rates for the first time in nearly three years in June in the hope of curbing inflation before a surge in energy costs spreads more broadly across the euro zone economy.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
