BERLIN (Reuters) - Higher inflation is compounding the plight of savers and the European Central Bank should respond by raising its interest rates fro.
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German inflation pushes further above ECB target in May
Germany’s annual consumer price inflation accelerated in May, advancing further above the European Central Bank’s target of close to but below 2%, the Federal Statistics Office said on Monday.
Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.4% in May, up from 2.1% in April. A Reuters forecast had pointed to a May reading of 2.5%.
Source: Reuters (Writing by Paul Carrel, editing by Kirsti Knolle)
2021-06-01