RTTNews - Tuesday, Germany's Federal Statistical Office said in a final report that the consumer price index or CPI dropped 0.5% year-over-year in July, in contrast to the 0.1% increase in the preceding month. The consumer price index in July was revised up from 0.6% fall estimated in the preliminary report. This was the first annual decline in consumer prices since March 1987. A year earlier, the CPI was up 3.3%.

On a monthly basis, the CPI remained unchanged in July, revised from 0.1% fall reported initially. In June, the CPI was up 0.4%.

The harmonized index of consumer prices or HICP dropped 0.7% year-on-year in July, compared with a flat reading in June. The annual HICP in July was revised down from 0.6% reported initially. Month-on-month, the HICP declined 0.1%, revised down from a flat reading estimated in the preliminary report.

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