Germany Consumer Prices Confirmed Unchanged


Consumer prices in Germany remained unchanged in September of 2015, following a 0.2 percent increase in the preceding month and matching preliminary estimates. A further decline in energy prices offset an increase in cost of food and services.

Year-on-year, energy cost (total) decreased by 9.3 percent, following a 7.6 percent drop in August. Prices were down for: heating oil (-27.9 percent), motor fuels (-13.8 percent), central and district heating (-7.4 percent) and gas (-1.8 percent). 

Cost of food and non-alcoholic beverages increased by 0.9 percent, after registering a 0.6 percent rise in the previous month. Prices rose markedly for vegetables (+9.6 percent, including potatoes: +22.3 percent), fruits (+8.8 percent, including apples : +9.7 percent), fish and fish products (+2.7 percent) and confectionery (+1.9 percent). Prices were considerably down for dairy products (-7.5 percent, including UHT milk: -15.0 percent; sliced cheese: -11.0 percent) and edible fats and oils (-4.7 percent, including butter: -8.2 percent).

Cost of goods as a whole fell by 1.3 percent, following a 0.9 percent drop in August. Cost of services rose 1.1 percent in September, slowing from a 1.2 percent rise in a month earlier. Among goods, lower prices were recorded for consumer electronics (-4.4 percent). In contrast, consumers had to pay more for newspapers and periodicals (+6.0 percent), tobacco products (+4.9 percent) and information processing equipment (+4.2 percent). Among services, higher cost were seen for net rents exclusive of heating expenses (+1.2 percent), passenger transport (of which taxi ride +13.5 percent), hairdresser services and other services for personal care (+3.4 percent) and maintenance and repair of vehicles (+3.2 percent). In contrast, cost of services declined for air tickets (-2.6 percent) and telecommunication services (-1.3 percent.

On monthly basis, consumer prices fell 0.2 percent in September, following a remaining unchanged in August. Prices decreases were  especially seen for  air tickets (–3.2 percent) and package holidays (–11.7 percent) after the end of the summer holiday season. Cost also fell again for motor fuels (–4.4 percent, including supergrade petrol: –5.5 percent; diesel fuel: –1.0 percent), household energy (–0.4% percent; including charges for central and district heating: –1.0 percent; heating oil: –0.3 percent). 

The harmonized index of consumer  prices (HICP) fell by 0.2 percent in September of 2015 over the same month last year, following a 0.1 percent rise in August. Compared with the a month earlier, the index also dropped by 0.3 percent.

Germany Consumer Prices Confirmed Unchanged


Destatis l Rida Husna | rida@tradingeconomics.com
10/13/2015 7:53:27 AM