By Mucahithan Avcioglu
ISTANBUL (AA) - The consumer prices index (CPI) in Germany was at 2% in June on a yearly basis, below market expectations, according to preliminary estimates released on Monday.
The figure was down from 2.1% in May, its lowest level since last October, the Federal Statistical Office (Destatis) data showed.
The CPI figures were at 2.1% in April and 2.2% in March, down from a 14-month high of 2.6% in December.
The markets had expected the figure to rise 2.2% on an annual basis in June.
A significant fall in energy prices drove the overall easing in annual inflation. The price of energy products saw a decline of 3.5% in June year-on-year.
Meanwhile, above-average increases in services and food prices continued to drive up inflation with increases of 3.3% and 2%, respectively.
The inflation rate excluding food and energy, often referred to as core inflation, was at 2.7% in June on an annual basis, also down from 2.8% in May.
Compared to May, consumer prices were stable in June on a monthly basis, easing from 0.1% in May, also below market forecasts.