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Consumer prices in the country are expected to decline by 0.1 per cent on April 2023, the Federal Statistical Office (Destatis) said in a press release.
At 2.6 per cent, the year-on-year (YoY) increase in energy prices in May 2023 was, however, lower than the change rate of the overall index. There is a base effect as the index level was high in May 2022 after energy prices had soared following the Russian attack on Ukraine.
In addition, the measures of the federal government’s third relief package, which are reflected in the consumer price index, contributed to the slowing of the energy price increase.
Fibre2Fashion News Desk (NB)