Germany's
Federal Statistical Office (Destatis) reported on Friday that the country’s consumer
price index (CPI) is expected to edge up 0.1 m-o-m in May after advancing 0.4 per cent m-o-m in April. That would mark the fourth straight
monthly gain in the index, but
the weakest one in the sequence.
On a y-o-y
basis, Germany’s CPI is seen to rise by 2.1 per cent in May, the same pace as in the previous
month.
Economists had predicted
CPI would gain 0.1 per cent m-o-m and 2.0 per cent y-o-y in May.
According to
the report, energy prices tumbled by 4.6 per cent y-o-y this month, easing from a plummet of 5.4 per cent y-o-y
in April. Meanwhile, food prices soared by 2.8 per cent y-o-y, the same pace as in the previous month. The services costs climbed by 3.4 per cent y-o-y,
decelerating from a 3.9 per cent y-o-y surge in April.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is anticipated to increase by 0.2 per cent m-o-m (the least in four
months)
and 2.1 per cent y-o-y (the least since September 2024 (+1.8 per cent y-o-y)).
Economists had forecast advances
of 0.1 per cent m-o-m and 2.0 per cent
y-o-y for May. In April, the German HICP jumped
by 0.5 per cent m-o-m and 2.2 per
cent y-o-y.