German Inflation Hits ECB Target, Drops to 2% in June
Germany's annual inflation rate has surprisingly fallen to 2% in June, according to preliminary data from Destatis. This aligns Europe's largest economy with the European Central Bank's target.
Key Highlights:
- Inflation Rate: Decreased to 2% in June.
- ECB Target: Germany now meets the European Central Bank's inflation target.
- Analyst Expectations: Economists surveyed by Reuters had predicted a rate of 2.2%.
- Eurozone Comparison: The harmonized index allows for direct comparison with other Eurozone states.
- Previous Month: The inflation rate in May was 2.1%.
This is a developing story and will be updated with further details as they become available.