The annual inflation rate in Germany during the month of May declined to 6.1%, compared to 7.2% in the previous April.
According to data from the German Federal Statistical Office, the pace of inflation fell for the third month in a row.
The last time the annual inflation rate in the country was lower than the current level was in March 2022 when it reached 5.9%.
In March 2023, the inflation rate reached 7.4%, and this was the first time it had fallen below the 8% mark since August 2022.
The office indicated that consumer prices fell from April to May of this year by 0.1 percent.
However, economists do not expect an improvement in inflation rates, as they expect it to continue to rise after wage increases in many areas in the service sector, such as tourism.
