German Inflation Stable At 2.1%

(RTTNews) - Germany's consumer prices grew at a steady rate in May, flash estimates from Destatis revealed on Friday.

Consumer price inflation remained unchanged 2.1 percent in May, while it was forecast to ease to 2.0 percent.

Core inflation which excludes prices of food and energy, softened to 2.8 percent in May from 2.9 percent a month ago.

Data showed that services cost registered a slower growth of 3.4 percent after a 3.9 percent rise. Meanwhile, the increase in goods costs accelerated to 0.9 percent from 0.5 percent.

Inflation based on the harmonized index of consumer prices slowed further in May. The inflation rate was 2.1 percent compared to 2.2 percent in the previous month and the expected inflation of 2.0 percent.

Month-on-month, the consumer price index edged up 0.1 percent, following a 0.4 percent rise in April. Similarly, the HICP grew 0.2 percent, slower than the 0.5 percent gain seen in April.