Germany's Federal Statistical Office reported on Friday the country’s consumer price index (CPI) is expected to increase 0.2 percent m-o-m in May, following a 1.0 percent m-o-m advance in the previous month.

On the y-o-y basis, Germany’s inflation rate is seen to rise 1.4 percent this month after a 2.0 percent gain in April.

Economists had predicted inflation would increase 0.3 percent m-o-m and 1.6 percent y-o-y in May.

According to the report, food price growth accelerated to 0.9 percent y-o-y in May from 0.8 percent y-o-y in April, while energy inflation slowed to 4.2 percent y-o-y from 4.6 percent y-o-y. At the same time, services costs climbed 1.2 percent y-o-y following a 2.1 percent y-o-y jump in the previous month.