German Inflation Rate Rises to 0.7%

German consumer prices rose by 0.7% year-on-year in May, as the inflation rate increased for the fourth consecutive month.
Germany's statistics office Destatis said that compared with April 2015, the consumer price index rose by 0.1%.
Pressures driving the inflation rate up were rising food prices, particularly the cost of fruit and vegetables.
There were also hikes in the cost of fish, confectionery and bread. The cost of oil products fell, however.
Excluding energy costs, consumer prices rose by 1.2% year-on-year.
Using the European Central Bank's favourite measure, the Harmonised Index of Consumer Prices, inflation also rose by 0.7% year-on-year in May.