Consumer prices in Germany were 1.8% higher y/y

Consumer prices in Germany were 1.8% higher in September 2017 compared with September 2016. In August 2017, the inflation rate as measured by the consumer price index was 1.8%, too. Compared with August 2017, the consumer price index increased by 0.1% in September 2017. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 28 September 2017.

In September 2017, the prices of energy products were up 2.7% year on year. The increase in energy prices was higher than the overall rise in prices and had a strong upward effect on the inflation rate. In September 2017, prices were up year on year especially for mineral oil products (+6.2%, of which heating oil: +12.9%; motor fuels: +4.5%) and electricity (+2.0%). Only gas prices declined on a year earlier (-2.5%). Excluding energy prices, the inflation rate would have been +1.7% in September 2017.