German inflation higher again in May: data

Inflation in Germany, Europe's biggest economy, crept higher in May with consumer prices rising by 0.7 percent year-on-year, preliminary data showed Monday. Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany also rose by 0.7 percent year-on-year in May, still way under the ECB's annual inflation target of just below two percent. The May data are still only preliminary, since they are based on consumer price st