Germany's Federal Statistical Office (Destatis) reported on Monday the country’s consumer price index (CPI) is expected to increase 0.6 m-o-m in June after declining 0.1 percent m-o-m in the previous month.

On the y-o-y basis, Germany’s inflation rate is seen to rise 0.9 percent this month, following a 0.6 percent advance in May.

Economists had predicted inflation would increase 0.3 percent m-o-m and 0.6 percent y-o-y in June.

According to the report, food price growth decelerated to 4.4 percent y-o-y in June from 4.5 percent y-o-y in May, while energy prices fell 6.2 percent y-o-y after an 8.5 percent y-o-y drop in the previous month. Services costs rose 1.4 percent y-o-y in June, following a 1.3 percent y-o-y gain as in May.

Meanwhile, the harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is expected to surge 0.7 percent m-o-m and 0.8 percent y-o-y.