German Inflation Rate at 1.4% in September


In September, Germany's consumer prices rose by 1.4 percent down from 1.5 percent in August. The slowdown was mainly due to the development of mineral oil costs which fell 6.5 percent.

The year-on-year price decrease for both heating oil (−5.8 percent) and motor fuels (−6.7 percent) had a downward effect on the overall inflation. Not considering mineral oil prices, the inflation rate in September 2013 would have been +1.9 percent. Contrary to the favorable price development of mineral oil products, electricity prices (+11.5 percent) and solid fuel prices (+6.1 percent) in September 2013 were considerably up on a year earlier.

Food prices in September 2013 (+4.7 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 (+13.6 percent).  

Total goods prices rose by 1.3 percent in September 2013 compared with September 2012. Total service prices rose by 1.6 percent, a larger increase than for goods prices. This development was mainly caused by net rents exclusive of heating expenses (+1.4 percent), for which households spend a fifth of their consumption expenditure on average.

German Inflation Rate at 1.4% in September


Destatis | Nuno Fontes | nuno@tradingeconomics.com
10/11/2013 8:48:17 AM