(MENAFN) Data showed that inflation in Germany, Europe's biggest economy, crept higher in May with consumer prices rising by 0.7 percent on-year, The Peninsula Qatar reported.
The index had risen in April by 0.5 percent, the federal statistics office Destatis said. The May data are still only preliminary, since they are based on consumer price statistics from only six of 16 states.
Earlier in March, the European Central Bank embarked on a massive USD1.1 trillion bond purchase program to ward off deflation and end stagnation in the eurozone economy.
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