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Home >> Business
UPDATED: 08:23, June 10, 2005
Germany's inflation rate picks up
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Germany's inflation picked up fractionally to 1.7 percent on a 12-month basis in May from 1.6 percent in April, said the Federal Statistics Office on Thursday.

The German consumer price index rose by 0.3 percent in May from the figure in April, the office said in a statement.

The final May inflation numbers confirmed a preliminary estimate calculated late last month. The preliminary figure is based on inflation data from six so-called indicator states: Baden- Wuerttemberg, Bavaria, Brandenburg, Hesse, North Rhine-Westphalia and Saxony.

In May 2005, Germany's mineral oil product prices still had an upward effect on the year-on-year rate of price increase, which has been the case since April 2004.

Without considering heating oil and motor fuels, the rate of increase would have been 1.5 percent. Compared with a year earlier, domestic fuel prices climbed above average 20.9 percent.

Motor fuel prices in May 2005 were 1.2 percent above May 2004 levels with diesel's 9.6 percent increase.

Prices of household energy sources were also higher than a year earlier with electricity up 4.4 percent and gas up 8.4 percent.

Source: Xinhua


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