Germany April Inflation Rate Confirmed at 1.6%
German consumer price inflation rate stood at 1.6 percent year-on-year in April 2018, unrevised from the preliminary estimate and unchanged from the March's figure. Prices of food and energy rose at a faster pace, while services inflation slowed.
5/16/2018 7:48:22 AM
Prices of goods rose 1.6 percent year-on-year in April, compared to 1.4 percent in the preceding month, as food and energy inflation rates picked up. Prices also increased for newspapers and periodicals (4.8 percent), beer (4.7 percent) and tobacco products (4.4 percent). Meantime, cost fell for consumer electronics (-3.8 percent) and information processing equipment (-3.0 percent).
Energy prices were up 1.3 percent, after a 0.5 percent rise in a month earlier. Prices increased mainly for: heating oil (8.0 percent); electricity (1.6 percent); motor fuels (0.6 percent); and charges for central and district heating (0.6 percent). In contrast, consumers paid less for both solid fuels (-1.9 percent) and gas (-1.3 percent).
Cost of food rose 3.4 percent in April, faster than a 2.9 percent increase in March. Price increases were observed for: edible fats and oils (15.4 percent), of which butter (30.2 percent); dairy products and eggs (8.9 percent); fruit (8.6 percent); fish and fish products (2.5 percent); and for meat and meat products (2.4 percent). On the other hand, vegetable prices fell 4.5 percent.
Services inflation softened to 1.5 percent in April from 1.8 percent in a month earlier, with prices rising for: net rents exclusive of heating expenses (1.6 percent); maintenance and repair of vehicles (3.2 percent); and catering services in restaurants, cafes and the like (2.2 percent). Meantime, consumers paid less for telecommunication services (-0.7 percent) and package holidays (-1.1 percent).
On a monthly basis, the consumer price index was unchanged, following a 0.4 percent gain in March. Prices advanced for: energy (1.7 percent), particularly for heating oil (5.4 percent) and motor fuels (3.3 percent), including super-grade petrol (3.6 percent) and diesel fuel (2.6 percent). Also, prices increased for tobacco products (2.0 percent) and food (0.1 percent), especially for fruit (0.6 percent) and confectionery (0.6 percent). By contrast, prices fell for: vegetables (-0.5 percent); dairy products (-0.5 percent); dental services (-1.1 percent), gardening products and consumer goods (-0.9 percent) and telephones (-0.8 percent).
The harmonised index of consumer prices rose 1.4 percent from the previous year, but fell 0.1 percent from the previous month.