German consumer prices showed no annual change in May for the first time since 1987, with Europe's biggest economy officially recording zero inflation, the federal statistics office said today.
On a monthly basis, prices slipped by 0.1%, the Destatis office added as it presented final figures for May.
The annual rate of 0% is largely the result of a comparison effect since inflation was soaring in May 2008 owing in particular to a spike in oil prices, Destatis noted.
In the past year, the cost of oil and many food products has fallen, and if these categories, which account for around 20% of the total, were excluded from the calculation, inflation would have amounted to 1.4%.
On the year, energy prices fell by 8% and prices of food products by 1.2%.
