Consumer prices in Germany rose 6.1% in May compared to the same month a year earlier, the Federal Statistical Office (Destatis) said on Tuesday, thus confirming its provisional estimate. The figure marks a decline from April when inflation stood at 7.2%.
Food prices were the biggest driver of inflation, soaring 14.9% compared to May last year. Energy prices rose 2.6% year on year in May, slowing significantly from an annual increase of 6.8% in April. Excluding energy and food, the annual inflation rate was 5.4%.
On a monthly basis, consumer prices in Europe's largest economy declined 0.1%. The harmonized index of consumer prices for Germany increased by 6.3% from May 2022 and fell 0.2% month on month.
