Consumer prices continued rising in September

According to the Federal Statistical Office, consumer prices increased by 2.4% in the period from September 2006 to September 2007 in Germany. This corresponds to the highest inflation rate in two years. In July and August 2007 inflation rates had been 1.9% respectively. Compared to August 2007, consumer prices rose slightly by just 0.1% in September.

According to statisticians, the relatively high inflation rate is a consequence of price rises for mineral oil products. Over the last twelve months both prices for fuel and those for light fuel oil increased by +8.9% and +3.1% respectively. This result was also influenced by the fact that in September 2006 prices for the above products had sharply fallen. The resulting statistical effect is decisive for the current price rises. Thus, without taking into account the price rises for mineral oil products inflation would just have stood at 2.2% in September 2007.

Prices for electricity also increased above-average over a one-year period (+7.4%), while prices for other sources of energy increased to a smaller extent than consumer prices as a whole.

In addition, price rises in the field of education (+27.0%), for tobacco products (+4.9%) and transportation (+4.6%) had an effect on inflation rate too. Food prices also increased significantly by 2.7% in September 2007 as compared to the same month in 2006.

The relatively slight price rise as compared to August 2007 (+0.1%) in September this year is a consequence of opposite price developments which are due to seasonal factors. Besides lower prices for fruit (-3.1%) and vegetables (-2.4%) there were also price cuts for accomodation services (-8.9%) and package tours (-5.8%) registered.

The European consumer index for Germany increased by 2.7% in September 2007 as compared to September last year. As compared to August 2007 it rose by 0.2%. GERMAN