German CPI unchanged from preliminary release

Consumer prices in Germany rose by 0.3% in June 2016 compared with June 2015. The inflation rate as measured by the consumer price index increased slightly for the second consecutive month. This year, a slightly higher rate than in June 2016 was measured only in January (+0.5%). Compared with the previous month, the consumer price index was up 0.1% in June 2016. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 29 June 2016.

The development of energy prices (-6.4%) had a downward effect on the overall rise in prices in June 2016, as had been the case in the preceding months. However, the year-on-year decrease in energy prices continued to slow; in May 2016 it had been -7.9%. Especially the prices of mineral oil products (-11.4%, of which heating oil: -19.0% and motor fuels: -9.4%) were down in June 2016 on a year earlier. The prices of other energy products, too, were below the level of the same month of the preceding year (for example, charges for central and district heating: -9.1%; gas: -2.8%). Only electricity prices rose on a year earlier (+0.9%). Excluding energy prices, the inflation rate in June 2016 would have been +1.1%.