By Max Bernhard
FRANKFURT--Germany's inflation rate slowed in May after the late timing of the Easter and Whitsun holidays impacted figures this year.
Consumer prices rose by 0.2% on the month in May and by 1.4% on year, according to national standards, the Federal Statistical Office said Thursday, confirming a preliminary estimate. In April, annual inflation stood at 2.0%.
Measured by European Union-harmonized standards consumer prices rose by 0.3% on month and by 1.3% on year.
By comparison, the European Central Bank aims to anchor inflation in the eurozone as a whole at just below 2%.
A 9% decrease in package holiday prices weighed on the inflation rate in May, as did slower price increases for air and rail tickets compared with April, the statistical office said.
"These price decreases were mainly due to a calendar effect caused by Whitsun falling late this year compared with a year earlier," it said.
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