German inflation picks up

Inflation in Germany accelerated fractionally in June, buoyed by rising prices in the services sector and shallower declines in energy prices, a preliminary estimate showed on Wednesday.

The federal statistics office, Destatis, calculated that Germany's national inflation yardstick, the consumer price index, rose by 0.3 percent in June, slightly faster than the 0.1 percent recorded for Europe's biggest economy in the previous month.

Using the Harmonised Index of Consumer Prices (HICP) -- the barometer used by the European Central Bank -- the inflation rate edged up to 0.2 percent in June from 0.1 percent in May, Destatis said in a statement.