Summary Reason for the slowdown was a sharp decline in energy prices, the data showed
FRANKFURT (AFP) - Inflation in Germany, Europe s biggest economy, slowed noticeably in June with consumer prices rising by just 0.3 percent year-on-year, preliminary data showed on Monday.
In May, the index had risen by 0.7 percent on a 12-month basis, the federal statistics office Destatis said in a statement.
The reason for the slowdown was a sharp decline in energy prices, the data showed.
Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany rose by just 0.1 percent year-on-year in June, down from 0.7 percent in May and a long way below the ECB s annual inflation target of just below two percent.
The June data are still only preliminary, since they are based on consumer price statistics from only six of Germany s 16 regional states.
Final data from all 16 states will be published on July 14, Destatis said.
