German preliminary July CPI up 0.3%

German consumer price index rose 0.3% in July from a month earlier and 0.4% on the year, according to preliminary data released today. These readings are slightly above expectations of 0.2% and 0.3% respectively.

The harmonised index of consumer prices, which is calculated for European purposes, is estimated to grow 0.4% over the month and 0.4% in July 2016 year on year.