Germany Records 2.0% Inflation in June, Matching ECB Target and Boosting Rate Cut Expectations
Significant Economic Milestone for Eurozone's Largest Economy Germany's consumer price inflation reached exactly 2.0% in June, matching the European Central Bank's target rate and marking a significant milestone for the eurozone's largest economy. The German Federal Statistical Office (Destatis) announced on June 30th that the consumer price index rose 2.0% year-over-year. This reading came in 0.2 percentage points below economists' expectations of 2.2%, aligning perfectly with the European Central Bank's inflation target. The achievement represents a crucial step toward price stability in Europe's economic powerhouse. The inflation data provides strong evidence that the ECB's monetary policy measures are effectively bringing price pressures under control across the eurozone. Lowest Level Since February 2024 Germany's inflation rate hitting 2.0% marks the first time since February 2024, ap...