Germany's inflation rate projected to hit 6.4% in June 2023: Destatis

Core inflation, which excludes volatile components such as food and energy, is forecast to reach 5.8 per cent in June, up from 5.4 per cent in May.

The energy sector did witness a price rise, but at 3 per cent, the rate was lower than the year-on-year change in the overall index. The relatively low energy price inflation rate is attributable to a base effect arising from the high price level in June 2022. Energy prices had seen a sharp uptick in March 2022 following the Russian attack on Ukraine, as per Destatis.

ALCHEMPro News Desk (DP)