Germany's inflation slowed to 2.3% year-on-year in June as oil prices fell, preliminary data from the Federal Statistical Office showed on Tuesday.
In May, consumer prices had risen 2.6% year-on-year, after a 2.9% increase in April - the highest rate since January 2024.
Filling up with petrol, in particular, had become significantly more expensive after the oil price shock caused by the war in Iran.
In June, household energy and fuel cost 3.4% more than in the same month of the previous year, the statisticians said. But that was already far lower than the 6.6% rise in May and the around 10% increase in April.
"Inflation fell in June mainly due to the drop in oil prices," said Jörg Krämer, chief economist at Commerzbank. "However, it is expected to rise again in July as the fuel rebate is being phased out."
With signs of tensions easing in the Iran conflict, oil prices have fallen sharply. Brent crude oil recently dipped to $74 per barrel - roughly the same as it cost before the fighting in the Middle East broke out at the end of February, driving oil prices as high as $110.
Overall, consumer prices fell by 0.3% from May to June, according to the Federal Statistical Office.
