Germany’s May inflation rises to 2.8%

“The inflation rate is slightly up again, mainly due to the continued increase in service prices,” said Ruth Brand, president of the statistics office.

Prices of services were 3.9% higher in May than in the same month a year earlier, following an increase of 3.4% in the previous month.

This was a marked acceleration in the year-on-year price increase, which can be partly attributed to the end of a base effect after a national cheap rail travel scheme was introduced in May 2023.