WIESBADEN – Consumer prices in Germany were 0.4% higher in August 2016 than in August 2015. The consumer price index in August 2016 remained unchanged compared with July 2016.
This means that the inflation rate as measured by the consumer price index persists at a low level.
A slightly higher rate had last been recorded in January 2016 (+0.5%). The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 August 2016.
As in the preceding months, the low inflation rate in August 2016 was mainly due to the decrease in energy prices (–5.9%).
Compared with the previous month, the decrease of energy prices slowed down year on year; it had stood at –7.0% in July 2016. Consumers benefited especially from the prices of mineral oil products, which were down in August 2016 on a year earlier (–10.4%, of which heating oil: –15.0%, and motor fuels: –9.1%).
Food prices (total) were 0.9% higher in August 2016 than in August 2015. Year-on-year prices increased especially for fruit (+4.2%) and vegetables (+5.3%, including potatoes: +10.9%) as well as for edible fats and oils (+5.5%, including butter: +7.8%, and olive oil: +8.3%).
Marked price increases were also recorded for fish and fish products (+3.4%). In contrast, consumers paid less especially for dairy products (–6.4%).
The prices of goods (total) fell by 0.6% in August 2016 compared with August 2015, the main reason being the decrease in energy prices (–5.9%).
Substantial price decreases were also observed for coffee, tea and cocoa (–4.1%).
Besides total food prices, however, year-on-year prices were markedly up for some goods, such as tobacco products (+3.3%) and newspapers and periodicals (+4.1%).
