Consumer prices in Germany rose by 1.6% in June

Consumer prices in Germany rose by 1.6% in June 2017 compared with June 2016. This means that the inflation rate as measured by the consumer price index was slightly up, following a decrease to 1.5% in May 2017 (April 2017: +2.0%). Compared with May 2017, the consumer price index rose by 0.2% in June 2017. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 29 June 2017.

In June 2017, the development of energy prices had a downward effect on the overall inflation rate. Compared with the same month a year earlier, Energy prices remained unchanged in June 2017. The increase in energy prices thus slowed again (May 2017: +2.0%; April and March 2017: +5.1% each). The prices of some energy products (for example, electricity: +1.5%; heating oil: +0.9%; motor fuels: +0.2%) were slightly up in June 2017 on a year earlier. Decreases were observed for gas prices (-3.2%) and charges for central and district heating (-1.1%). Excluding energy (total), the inflation rate in June 2017 was +1.8%.

Food prices rose 2.8% from June 2016 to June 2017. The year-on-year increase in food prices thus accelerated again in June 2017 (May 2017: +2.4%; April 2017: +1.8%). In June 2017, prices were up on a year earlier especially for edible fats and oils (+25.9%), especially butter (+59.5%) was much more expensive. For all dairy products, too, consumers had to pay markedly more (+13.2%). Price increases were also recorded, among other things, for fish and fish products (+3.4%) and for meat and meat products (+1.8%), whereas prices were down especially for vegetables (-3.2%).

Excluding energy and food prices, the inflation rate was +1.6% in June 2017.