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German annual inflation falls in May

Harmonized consumer prices in Germany rose 1.3% year over year in May, following a 2.1% annualized increase recorded in the prior month, provisional data from the Federal Statistical Office showed.

In monthly terms, harmonized inflation edged up 0.3% in May following a 1.0% rise in April.

Annual nonharmonized consumer inflation came in at 1.4% in May after accelerating to 2.0% in April. Services prices grew at a rate of 1.2% compared to 2.1% in the prior month.

The goods price index gained 1.8%, unchanged from the growth rate in April.

On a monthly basis, nonharmonized consumer prices increased 0.2% in May, following a 1.0% increase in April.

The Econoday consensus estimate was for a month-over-month increase of 0.3% and an annualized growth rate of 1.6% in nonharmonized terms.