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- Consumer prices in Germany were 2.5% higher in October 2018 than in October 2017
Consumer prices in Germany were 2.5% higher in October 2018 than in October 2017
The inflation rate – measured by the consumer price index – thus increased again. A higher inflation rate was last recorded just over ten years ago (September 2008: +2.8%). Compared with September 2018, the consumer price index rose by 0.2% in October 2018. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 October 2018.
As in the preceding months, the increase of energy product prices had a considerable effect on the inflation rate. Energy prices rose 8.9% in October 2018 on October 2017. The increase in energy prices thus accelerated again; in September 2018, the relevant rate of price increase had been +7.7%. From October 2017 to October 2018, price rises were recorded especially for heating oil (+39.9%) and motor fuels (+14.8%). The price changes for the other energy products were much smaller (for example, charges for central and district heating: +2.9%; electricity: +1.0%; gas: -1.4%). Excluding energy prices, the inflation rate would have been +1.7% in October 2018; excluding the prices of mineral oil products, it would also have been +1.7%.
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