By Maria Martinez
German consumer prices declined in May compared with April and continued to slow year-on-year, driven by a sharp drop in energy prices, the German statistics office Destatis said Tuesday.
Consumer prices decreased 0.1% on month in May measured by national standards, confirming the preliminary estimate and in line with the forecast of economists polled by Dow Jones Newswires.
In European Union-harmonized standards, prices remained unchanged from April, also in line with forecasts.
Consumer prices were up 0.6% on year in national standards and prices rose 0.5% in EU-harmonized standards.
The coronavirus pandemic caused some price-collection problems in May, as was the case in April, as some products weren't available on the market and difficulties were encountered in shop-based price collection, Destatis said. However, the number of prices obtained in May was up from April and the quality of the provisional overall results is assured, Destatis said.
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