Germany's inflation at 2.4% in May

ISTANBUL

Germany's annual inflation rate was at 2.4% in May, up from 2.2% in April, federal statistical authority Destatis revealed on Wednesday.

"The inflation rate is slightly up again, mainly due to the continued increase in service prices", Ruth Brand, head of Destatis, said in a press release, adding: "By contrast, energy and food prices have had a dampening effect on overall inflation since the beginning of the year."

Prices of energy products fell by 1.1% in May on a yearly basis while food prices went up by 0.6%.

Destatis also reported that consumer prices in May rose by 0.1% versus April.