Germany's Inflation Unexpectedly Slows to 8.2% in June

Data on Wednesday showed that inflation in Germany fell in June, the first month in which the effects of government measures to curb high fuel prices were included.

The Federal Statistics Office said that consumer prices, comparable with inflation data from other EU countries (HICP), fell 8.2% on an annual basis, down from 8.7% in May. A Reuters poll of analysts had put the annual German overall consumer price index (CPI) reading at 8.8% in June.

This comes after Spanish data showed that inflation in the country rose to 10.2% on an annual basis in June, from 8.7% in May, to its highest level since April 1985. In Belgium, the first inflation estimates showed that consumer prices rose to 10.5 percent in June from 9.9 percent in May, according to the European harmonized index.

The preliminary reading of inflation in the eurozone is scheduled to be released next Friday, with expectations of a rise to 8.4%. in June, from 8.1% in May.