German HICP rises 0.7% in May

FXStreet (Mumbai) - The preliminary data released by Destatis on Monday showed the German Harmonised Index of Consumer Prices (HICP) rose to a 7-month high of 0.7% year-on-year in May, beating the estimate of 0.6%. HCIP stood at 0.3% in April.

Month-on-month, the HICP rose 0.1%, compared to -0.1% in April. The headline CPI figure rose 0.7% year-on-year matching estimate, compared to 0.5% in April. Goods prices fell 0.3%, while services prices rose 1.5%. Food prices rose 1.4%, while household rises 1.2%. Meanwhile, energy prices 5%, compared to the previous month’s drop of 5.9%.