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Germany Sees Jump In Inflation

Consumer prices rose 3.3 percent over the last year -- the sharpest increase in inflation since 1993, the Federal Statistics Office said.

BERLIN (AP) -- Germany saw consumer prices rise 3.3 percent over the last year -- the sharpest increase in inflation since 1993, the Federal Statistics Office said Friday in a report based on preliminary figures.

From June 2007 to June 2008, consumer prices were up 3.3 percent, based on data from six of Germany's 16 states, the agency, known as Destatis, reported. Prices were up 0.3 percent in June over May, it added.

"Factors contributing to the year-on-year rate of price increase... are especially the large price rises for heating oil and motor fuels," Destatis said.

Depending on the state, heating oil prices were up between 3 and 7.2 percent over last month, or between 57.3 percent and 69.3 percent over the prices last year, the agency said.

Motor fuel was up between 1.8 and 3.2 percent on the month, and 14.3 percent to 16.4 percent on the year. Diesel prices were up even more, rising 1.9 to 4.5 percent over May and 27.3 to 32 percent over last June.

Food prices meanwhile remained relatively stable over May, varying between dropping 0.2 percent to rising 0.7 percent, the agency said. Over last June, however, food prices are between 7 to 8.8 percent higher.

The harmonized consumer price index for Germany, which is calculated for purposes of Europe-wide comparison, was expected to increase by 3.4 percent from June 2007 to June 2008, Destatis said.

Final results for June 2008 are expected to be released on July 16, the agency said.

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