German CPI improves in May

The Preliminary Consumer Price Index in Germany picked up in May, whereas the inflation rate remained far below the target zone. According to the Federal Statistics Office, Germany's CPI grew 0.1% year-over-year in May, following the 0.1% drop seen in the previous month and meeting analysts' expectations. Meanwhile, the CPI gauge added 0.3% in the same period, compared to April's 0.4% decline.