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- Consumer prices in Germany were 2.0% higher in July 2018 than in July 2017
Consumer prices in Germany were 2.0% higher in July 2018 than in July 2017
Consumer prices in Germany were 2.0% higher in July 2018 than in July 2017. The inflation rate - measured by the consumer price index - thus decreased slightly again. In the preceding two months, the inflation rate had been just over two percent (June 2018: +2.1%; May 2018: +2.2%). Compared with June 2018, the consumer price index rose by 0.3% in July 2018. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 July 2018.
The development of energy product prices had a considerable effect on the inflation rate in July 2018. The year-on-year increase in energy prices in July 2018 (+6.6%) was slightly higher than in June 2018: (+6.4%). The main reason for the price increase is the relatively low price a year ago (statistical base effect). Especially heating oil prices were up on a year earlier (+28.5%).
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