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Data: German Inflation Higher again in May.

TEHRAN (FNA)- Inflation in Germany crept higher in May with consumer prices rising by 0.7 percent year-on-year, final data showed on Tuesday.

The index had risen in April by 0.5 percent on a 12-month basis, the federal statistics office Destatis said in a statement, Yahoo News reported.

Using the Harmonized Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany also rose by 0.7 percent year-on-year in May, still way under the ECB's annual inflation target of just below two percent.

The final data confirm a preliminary estimate published earlier this month and appear to indicate that the ECB's monetary policy measures are slowly beginning to push up inflation.

In March, the ECB embarked on a massive trillion euro ($1.1 trillion) bond purchase program to ward off deflation and end stagnation in the Eurozone economy.

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Publication:FARS News Agency
Date:Jun 16, 2015
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