Consumer prices up by 3 percent in May

The sharp rise in consumer prices continued in May. According to the Federal Statistical Office, the consumer price index for Germany was up by 3.0% in May 2008 as compared to May last year. In April this year, the annual increase had been at 2.4%. In comparison with April 2008 consumer prices rose by 0.6%. The increase was particularly significant for fuel oil and diesel.

The increase varied between 10.3 and 13.3% in several Federal Laender thus exceeding last year’s figures by between 49.1% and 64.6%. As compared to April 2008 the price for diesel once more increased by between 6.2% and 8.7% in May which is between 25.8% and 27.5% more as compared with May 2007. Prices for foodstuffs changed by between -0.6% and +0.7% in comparison with April this year which amounts to an increase of between 7.1% and 9.2% compared to last year.

Final figures will be available on June 13th. GERMAN