Inflation rate in Germany picked up slightly in June from a four-year low level in previous month, but still failed to uplift the overall euro zone inflation to European Central Bank (ECB)'s target, official data showed on Friday.
Compared with the same month of last year, German consumer prices rose by 1.0 percent, German Federal Statistical Office (Destatis) said, confirming its previous estimate. In May 2014, the annual inflation rate measured by consumer prices index (CPI) went down to 0.9 percent, the lowest since June 2010.
According to Destatis, energy prices were down by 0.3 percent year-on-year in June. Food prices remained unchanged. Not considering the prices of energy and food, the inflation rate would be 1.4 percent.
Measured by harmonized index of consumer prices (HICP), ECB's yardstick, German annual inflation in June rose to 1.0 percent from 0.6 percent in May.
The inflation rate in Germany, as well as in the overall euro zone, remained below the 2 percent target of the ECB.
Earlier release from European Union's statistical office showed that annual inflation in euro zone was only 0.5 percent in June.
Economists have warned against deflation risks in the common currency area, led ECB decided to cut all of its interest rates last month. /.