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- Consumer prices in Germany were 2.0% higher y/y
Consumer prices in Germany were 2.0% higher y/y
Consumer prices in Germany were 2.0% higher in April 2017 than in April 2016. The inflation rate as measured by the consumer price index is on the rise again (March 2017: +1.6%; February 2017: +2.2%). Compared with March 2017, the consumer price index remained unchanged in April 2017. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 27 April 2017.
As in the months before, the inflation rate of April 2017 was mainly influenced by the development of energy prices. The month-on-month price increase (+5.1%) was at the level of March 2017. Prices of mineral oil products, in particular, went up considerably (+14.3%, of which heating oil: +30.1% and motor fuels: +10.6%). The annual rates of price increase showed diverging trends for the other types of household energy. Electricity prices, for example, were up by 1.1%, while gas prices were down by 3.4%. Excluding the prices of all types of energy, the inflation rate would have been +1.7% in April 2017; excluding the prices of mineral oil products, it would have been only +1.4%.
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