German July inflation confirmed at 1.8%

(Sharecast News) - German inflation slowed to 1.8% in July, down from 2.0% in the previous month, confirming a flash estimate, the Federal Statistics Office said on Wednesday. "The rate of inflation has stabilised since the start of the year and remained unchanged again for two consecutive months," said Destatis President Ruth Brand.

"Energy prices are continuing to drop and have a downward effect on overall inflation. On the other hand, the increase in service prices, in particular, remains above average and is driving up inflation."

Reporting by Frank Prenesti for Sharecast.com