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German inflation edges higher in June

 The flag of the Federal Republic of Germany/AFP

The flag of the Federal Republic of Germany/AFP

FRANKFURT, Jul 11 – Inflation in Germany, Europe’s biggest economy, edged fractionally higher in June after reaching its lowest rate in four years the previous month, final data showed on Friday.

According to data calculated by the federal statistics office Destatis, German inflation rose to 1.0 percent this month from 0.9 percent in May, its lowest level since February 2010.

The final data confirm a preliminary flash estimate published at the end of June.

Inflation is currently unusually low across the 18-nation eurozone, fuelling concerns the region could be on the brink of deflation a sustained and widespread drop in prices.

Such concerns led the European Central Bank to cut its key interest rates last month.

Using the Harmonised Index of Consumer Prices (HICP) — the yardstick used by the ECB — inflation in Germany picked up to 1.0 percent in June from just 0.6 percent in May.

The ECB defines price stability as annual inflation of just below 2.0 percent.

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