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German July Final Consumer Price Index Rises 0.4%

Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.

The figures confirmed the preliminary estimates given by the Statistics Office on July 27 and were also in line with forecasts submitted by economists polled by Thomson Financial News.

The Statistics Office said the HICP in July rose 2% year-on-year and was up 0.5% month-on-month, also confirming preliminary figures.

The rise on the month was mainly due to a 16.3% increase in the price of package holidays and accommodation as the summer holiday season got underway, as well as a rise in the price of heating oil.

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