German Inflation Confirmed at 1.9% in July

In July, Germany's consumer prices rose by 1.9 percent. The inflation rate had been 1.8 percent in June and 1.5 percent in May. The overall annual inflation rate in July was again characterized by marked rises in food prices.

In July, food prices were up 5.7 percent on a year earlier, that is, highest since more than four years ago (September 2008: +6.5 percent). Consumers had to pay markedly more for edible oils and fats (+15.4 percent) as well as for vegetables (+11.7 percent) and fruit (+11.3 percent).

Energy prices rose 2.9 percent. As in the previous months, electricity prices were considerably higher in July 2013 than a year earlier (+11.9 percent). Also, the prices of solid fuels (+4.9 percent) and charges for central and district heating (+2.6 percent) were higher than a year earlier.

Total goods prices rose by 2.5 percent in July 2013 compared with July 2012 while total service prices rose by 1.5 percent in the same period. On a monthly basis, prices increased 0.5 percent.

German Inflation Confirmed at 1.9% in July

Destatis | Nuno Fontes |
8/13/2013 8:47:50 AM