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German Flash Annual Inflation Rises to 2.8% in July

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Germany's annual inflation rate increased to 2.8% in July from 2.3% in June, according to provisional data from the country's Federal Statistical Office published Thursday.

The latest reading is above the consensus estimate of 2.7%.

On a monthly basis, consumer prices were up 0.8%, against the previous 0.3% decline and the expected 0.7% rise.

The annual harmonized inflation rate stood at 2.8%, as expected, compared with the prior 2.4%. Meanwhile, harmonized consumer prices were up 0.9% month over month, against the previous reading of a 0.2% downtick and the expected 0.8% gain.

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