The FINANCIAL — Consumer price inflation in Germany remained subdued in July, a sign that the European Central Bank’s bond purchase program has yet to have its desired effect on Europe’s largest economy, according to Nasdaq.
The federal statistics office on August 13 confirmed its preliminary inflation estimates from July 30, but added that falling energy prices continued to depress the overall price index.
Consumer prices measured according to common European standards, or the HICP, rose 0.3% on the month, leaving the annual rate steady at 0.1%. Prices measured according to national standards rose 0.2%, both on a monthly basis and year- over-year, respectively.
The data indicate that inflation remained well below the ECB’s medium-term objective, as it aims to anchor inflation in the entire eurozone at just below 2%.
Energy prices in July were down 0.5% from May, but slumped 6.2% from the year-earlier period.