Inflation accelerates again in Germany, below target in Spain

In June, annual inflation in Germany rose to 6.8 percent, while in Spain it fell below the 2 percent target set by the European Central Bank for the entire Eurozone. While tightening messages from the European Central Bank (ECB) followed one another, inflation data from Eurozone countries indicated that the path would continue for a while. In Germany, the strongest economy in the Eurozone, annual inflation started to rise again in June. Inflation in the country was recorded as 6.8 percent in June. Economists participating in the Bloomberg survey expected annual inflation to be 6.8 percent. Annual inflation in the country had been on a downward trend until May. With the latest data, it was seen that annual inflation has turned upward again. Monthly inflation in Germany in June was also 0.4 percent, in line with expectations. In May, prices in Germany had pulled back by 0.2 percent on a monthly basis. In other important countries in the Eurozone, inflation was observed to be easing. In Spain, annual inflation in the same period was 1.9 percent, below the ECB's inflation target. Inflation in Italy also fell rapidly, reaching 6.7 percent.