(Morning News) The inflation rate in Germany in July was unexpectedly rising. After the European Central Bank’ s first interest rate hikes in more than ten years last week, the inflation data has exacerbated the central bank to further increase interest rates.Urgent.
Bloomberg reported that consumer prices in Germany in July increased by 8.5 % year -on -year. After taking temporary relief measures in the government, the inflation rate fell slightly to 8.2 % in June.Analysts who were interviewed by Bloomberg had expected that the inflation rate would slow to 8.1 % in July.
The sharp rise in food and energy costs is the main factor of inflation exceeded expectations, exceeding the impact of temporary tax refund of fuel tax and subsidies for public transport fares.
The inflation rate of the record euro area caused the European Central Bank in July Raise 50 basis points to raise interest rates 50 basis points., double the expected range of economists.The European Central Bank President Christina Ragard pointed out at the time that the market's expectations of high inflation have become deeply ingrained and must resolve this sign.Some officials believe that it is necessary to take strong action in the future.
Italy and Spain will announce inflation data on Friday (July 29), and it is expected to hit a new high.As far as the entire euro zone is concerned, economists believe that the price growth rate in July has accelerated to 8.7 %.
