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Germany: Consumer prices to fall in July

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  • Consumer prices to fall in July, German government projects
  • Energy, food price drops are chief reasons for price decrease
  • July drop will be the first instance since March 1987, government says
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(CNN) -- Consumer prices in Germany will fall in July, the first such drop in more than 20 years, the government reported.

Spurred by drops in energy and food prices from the previous year, July prices for Europe's largest economy will drop 0.6 percent compared to July of 2008, according to Germany's Federal Statistics Office. The last time Germany witnessed a negative inflation rate was in March 1987.

Energy and fuel prices peaked in July of 2008, the government said.

The figures released Wednesday were based on statistics from six of Germany's 16 states. Final results for July 2009 will be released on 11 August, the government reported.

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