Summary
Consumer costs in Germany noticed will increase of seven.9% year-on-year in May and 0.9% month-on-month. Unsurprisingly, meals and power had been the principle culprits fueling inflation, with power up a jaw-dropping 38.3% year-on-year and meals up 11.1%. The May numbers signify a brand new post-unification excessive, recent on the heels of a record-breaking April.
They’re paralleled by different detrimental inflation information out of Spain, which noticed a shock upswing in May, dashing hopes of a peak earlier in the yr. Spain’s inflation price of 8.5% in May got here after a dip from 9.8% in March to eight.3% in April. Similar to Germany, inflation is being fueled by robust upward stress in power and meals costs.
Plot Thickens for ECB: Inflation Remains Strong in Spain and Germany & More Latest News Update
Plot Thickens for ECB: Inflation Remains Strong in Spain and Germany & More Live News
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Plot Thickens for ECB: Inflation Remains Strong in Spain and Germany & More News Today
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