BERLIN, July 30 (Reuters) - German annual inflation remained unchanged as expected in July and stayed above the European Central Bank’s price stability target, data showed on Monday, supporting the ECB’s approach of winding down its unprecedented monetary stimulus only gradually.
German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.1 percent year-on-year after an increase of 2.1 percent in the previous month, the Federal Statistics Office said.
This was in line with a Reuters poll of analysts. The ECB targets inflation of close to but below 2 percent.
On the month, EU-harmonised prices were up 0.4 percent, the preliminary numbers showed. That compared with the Reuters consensus forecast for an increase of 0.4 percent. (Reporting by Michael Nienaber Editing by Paul Carrel)