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- Consumer prices in Germany were 1.5% higher in May
Consumer prices in Germany were 1.5% higher in May
Consumer prices in Germany were 1.5% higher in May 2017 than in May 2016. The inflation rate - measured by the consumer price index - thus decreased, following an increase in the previous month (April 2017: +2.0%, March 2017: +1.6%). Compared with April 2017, the consumer price index fell by 0.2% in May 2017. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 May 2017.
Energy prices were up 2.0% in May 2017 compared with a year earlier (April and March 2017: +5.1% each). The impact of the energy price development on the inflation rate diminished markedly. In May 2017, especially mineral oil products were more expensive than a year earlier (+5.8%, of which heating oil: +11.7%; motor fuels: +4.4%). The year-on-year rates of price increase showed diverging trends for the other energy products. Electricity prices, for example, were up by 1.2%, while gas prices were down by 3.4%. Excluding energy (total), the inflation rate in May 2017 was +1.4%.
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