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Business

German Inflation Picks Up

Inflation in Germany picked up fractionally to 1.7 percent on a 12-month basis in May from 1.6 percent in April, the federal statistics office, Destatis, calculated in final data on Thursday. Month-on-month, the German consumer price index (CPI) rose by 0.3 percent in May from the figure for April, the statisticians said in a statement. The final May inflation numbers confirmed a preliminary estimate calculated late last month. Preliminary German CPI is based on inflation data from six so-called indicator states -- Baden-Württemberg, Bavaria, Brandenburg, Hesse, North Rhine-Westphalia and Saxony. But final CPI is based on cost-of-living data from all 16 German states.

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