German Inflation Rate Confirmed at 1.5% in August


In August, Germany's consumer prices rose by 1.5 percent. The inflation rate had been 1.9 percent in July and 1.8 percent in June. The slowdown was mainly due to the development of energy prices.

Prices for energy had a small increase of 0.5 percent on the same month a year earlier which had a downward effect on the overall inflation. Not considering energy prices, the inflation rate in August would have been +1.8 percent. As in the previous months, electricity prices were considerably higher (+11.6 percent) than in August 2012. Prices were markedly down for heating oil (-8.1 percent) and motor fuels (-4.5 percent).

Food prices (+4.9 percent) were again markedly higher than the overall inflation rate. Consumers had to pay considerably more than a year earlier for edible oils and fats (+15.4 percent), fruit (+7.4 percent) and vegetables (+7.0 percent).

Total goods prices rose by 1.5 percent and total service prices rose by 1.6 percent in August 2013 compared with August 2012. Compared with July 2013, the consumer price index remained unchanged in August 2013.

German Inflation Rate Confirmed at 1.5% in August


Destatis | Nuno Fontes | nuno@tradingeconomics.com
9/11/2013 8:45:25 AM