Germany's anemic inflation rate gained a small jot of color in June as an energy price slowdown eased and food prices picked up.
In a short report, the Federal Statistical Office said Germany's harmonized inflation rate in June was 0.2% - as expected- compared with zero in May. That rate is calculated using the same methodology as Germany's European Union peers.
The preliminary figures showed the unharmonized inflation rate was 0.3%, up from the 0.1% rate in May but below expectations for 0.4% price growth.
Energy prices tumbled 6.4%, less than the 7.9% decline in May and the cost of services edged up by 1.4% from a 1.2% growth rate in May. Food price growth returned, at a pace of 0.1%, after year-on-year stagnation in May.
The eurozone as a whole has experienced little or no price growth in recent months, with inflation unlikely to hit the European Central Bank's 2% target anytime soon.
On the month German price growth slowed to 0.1% following 0.3% growth in May, the statistical office said. That compared with analysts' expectations for 0.2% price growth.
The data followed news that eurozone economic sentiment, as measured by the European Union Directorate General for Economic Affairs, fell 0.2 points in June to 104.4, from a revised reading of 104.6 in May. Analysts had been looking for an index reading of 104.7 - unchanged from the EU's original May estimate - following two consecutive months of improved sentiment. The eurozone index of consumer confidence was stagnant, as expected, at minus 7.3.
The Dax was up 1.46% following the price data at 9,585.31 as eurozone indices enjoyed their second day of strong gains after plunging on Friday in the aftermath of the U.K.'s Brexit vote.
The yield on the 10-year German government bond was recently unchanged a minus 0.12%.