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Wednesday, June 1, 2016, Jaistha 18, 1423 BS, Shaban 24, 1437 Hijri

German inflation back in black ahead of ECB meeting
Published :Wednesday, 1 June, 2016,  Time : 12:00 AM  View Count : 24

FRANKFURT, May 30: Inflation in Germany was back in positive territory in May on the back of rising prices for rents and services, data showed on Monday, in a welcome development for the European Central Bank ahead of its policy meeting later this week.
Nevertheless, the rate of inflation in Europe's biggest economy is still a long way below the ECB's target, analysts noted.  The federal statistics office Destatis calculated that Germany's national inflation yardstick, the consumer price index, edged up by 0.1 per cent in May after falling by 0.1 per cent the previous month. Using the Harmonised Index of Consumer Prices (HICP) -- the barometer used by the European Central Bank -- the inflation rate stood at zero per cent in May after minus 0.3 per cent in April.
The inflation data were a preliminary flash estimate calculated from consumer price data for six of Germany's 16 regional states. Final data based on all 16 states will be published on June 10.
Analysts said the fact that Germany has exited deflation -- the term used to describe falling prices -- would likely be welcomed by the ECB, which is holding its regular policy meeting on Thursday.    ?AFP

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