Home Top Stories Inflation in Germany rose slightly to 2.4% in May

Inflation in Germany rose slightly to 2.4% in May

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Inflation in Germany rose slightly to 2.4% in May

A woman holds money in her hand for a full shopping basket. Employee incomes in Germany rose in the first quarter of 2024, even after adjusting for inflation, boosted by strong wage growth and bonuses paid by many employers. Patrick Pleul/dpa

Inflation in Germany accelerated again in May, with prices rising 2.4% compared to the same month last year, preliminary figures showed on Wednesday.

That is a slight increase compared to April, when inflation was 2.2%, compared to the same month last year.

Economists had expected inflation to pick up in May and also pointed to higher wages, which could lead to price increases at companies.

According to preliminary data from the German Federal Statistical Office, consumers had to pay a total of 0.6% more for food in May than a year earlier.

Services are expected to have increased by 3.9%, and prices for insurance services have risen particularly sharply.

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