Fuel, transport subsidies help keep German inflation at 7.6%

Jun 28, 2022, 7:28 PM | Updated: Jun 29, 2022, 7:43 am

BERLIN (AP) — Inflation in Germany eased slightly in June compared to the previous month, in part due to new subsidies that helped rein in the price of gasoline and public transport.

Official figures released Wednesday show inflation hit 7.6% this month, down from 7.9% in May, which was the highest since the early 1970s.

Germany temporarily lowered taxes on diesel fuel and gasoline at the start of the month and introduced an ultra-cheap ticket that allows people to use all local and regional public transportation for 9 euros (less than $10) a month. The measures are due to last for three months.

Like elsewhere across the world, inflation in Germany has been stoked by the war in Ukraine, which has led to a rise in energy costs and food prices.

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Fuel, transport subsidies help keep German inflation at 7.6%