Germany's consumer price inflation experienced its first increase in five months this May, affirming initial estimates, as indicated by final data from Destatis released on Wednesday.
The consumer price inflation rate rose to 2.4 percent in May, up from April's consistent 2.2 percent—the lowest in three years—matching earlier flash data.
Conversely, EU-harmonised inflation surged to 2.8 percent from 2.4 percent, aligning with forecasts.
Throughout May, an uptick in service costs drove overall inflation, whereas lower food and energy costs mitigated the rise.
Service prices saw a 3.9 percent annual increase in May, accelerating from the previous month's 3.4 percent rise. In contrast, energy product prices continued their decline, falling by 1.1 percent.
Food prices climbed a modest 0.6 percent, considerably below the overall inflation rate. Notably, prices fell for dairy products and fresh vegetables, but rose for edible fats and oils.
On a month-to-month basis, consumer prices inched up by 0.1 percent in May, with the Harmonised Index of Consumer Prices (HICP) also increasing by 0.2 percent. These figures were consistent with initial estimates.
