German Inflation Increases Slightly in July
Inflation in the German economy, Europe's largest, picked up slightly in July, final official data confirmed on Friday.
Germany's national inflation yardstick, the consumer price index, grew by 0.4 percent, the federal statistics office Destatis said.
It was the third increase in the rate of inflation in as many months, and the largest this year since the 0.5 percent recorded in January.
The uptick was driven by rising food and service prices, but slowed as energy and clothing became cheaper.
"Without including energy, the inflation rate would have been 1.3 percent in July," Destatis said in a statement.
Using the Harmonised Index of Consumer Prices -- the European Central Bank's preferred measure -- inflation also grew by 0.4 percent in July, the statisticians went on.
Inflation in Germany remains well short of the target of just under 2.0 percent set by the ECB.
12 August 2016, 18:46
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You may like to know, there apparently being no education in economics or accounting available in Lebanon, that a rate may be expressed in terms of months or years. If the ECB set the inflation target at 2.0 percent, we may judge that to mean the annual rate. So we may judge that the other rates are annual rates. So German inflation is practically non-existent. Speaking of existential threats, what is the official currency of Lebanon, the US dollar or the Saudi riyal? It wouldn't do much good to use the shekel. What is the street rate in each case? Does a pound of Lebanese pounds equal a dollar?
12 August 2016, 18:47
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I'm sorry, this was an AFP story. So please assume I spoke of French francs, etc. How do you finance a politician in France: in US dollars, Saudi riyals, or Israeli shekels?
