Germany annual CPI inflation softens to 2.3% in June vs. 2.5% expected

Annual inflation in Germany, as measured by the change in the Consumer Price Index (CPI), softened to 2.3% in June's flash estimate from 2.6% in May. This print came in below the market expectation of 2.5%. On a monthly basis, the CPI declined 0.3% following the 0.2% decrease recorded in May.