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2026-07-30 22:48:53
[Germany's Inflation Rises to 2.8% in July Due to Sharp Energy Price Increases] Preliminary data released by the Federal Statistical Office of Germany on the 30th showed that energy prices in Germany rose sharply again in July, pushing the inflation rate to 2.8%, significantly higher than June's 2.3%, due to the expiration of the government's temporary fuel tax exemption. The Federal Statistical Office stated that German energy prices rose 8.3% year-on-year in July, higher than May's 6.6% and June's 3.4%. Analysts pointed out that the significant rise in energy prices is related to the expiration of the government's temporary fuel tax exemption. From May 1st, the tax on gasoline and diesel in Germany was reduced by about 17 euro cents per liter for two months. This measure, to some extent, curbed the rise in fuel prices. The German Council of Economic Experts previously released its spring economic forecast report, indicating that, affected by rising energy prices, Germany's inflation rate is expected to be 3% this year and 2.8% next year, both significantly higher than last year's 2.2%. (Xinhua)
