According to the Federal Statistical Office the German consumer price index for Germany will probably rise by 1.9% in July this year as compared to July 2006. In June this year the annual increase was 1.8%. As compared to June 2007 prices rose by 0.4% in July 2007.
The sharp increase is due to price hikes for package tours and lodging (+16.3% in July as compared to June 2007) during the holiday season. Fuel oil has also become more expensive compared to June. Price increases for fuel oil range between 2.3% and 5.3% in several federal states.
The harmonized European consumer price index for Germany is expected to rise by 2.2% in July 2007 as compared to July last year. (June 2007: +2.0%). As compared to June this year the index increases by 0.7%.