Consumer prices in January 2012: +2.1% on January 2011

Seasonal price decrease from previous month

In January 2012 the consumer prices in Germany were up 2.1% on January 2011. The inflation rate as measured by the consumer price index thus remained slightly above 2% (December 2011: also +2.1%). Compared with December 2011, the consumer price index markedly decreased by 0.4%. The estimate for January 2012 compared with the previous year has slightly been corrected upwards from +2.0% to +2.1%. The month-on-month result has been confirmed.

In January 2012 the rate of inflation was again mainly determined by the rise in energy prices, which exceeded the level of a year earlier by a total 7.2% (of which motor fuels: +6.4%; household energy: +7.7%). As regards household energy, the year-on-year price increase was sharpest for heating oil (+17.2%). The prices of other household energy types, too, were much higher than a year earlier (for example, charges for central and remote heating: +11.3%; gas: +6.7%; electricity: +3.0%). Not considering energy price development, the inflation rate in January 2012 would have been +1.5%.
 
Prices of food and non-alcoholic beverages increased by 3.0% compared with January 2011 (of which non-alcoholic beverages: +5.5%; food: +2.7%). The marked price rise for non-alcoholic beverages is due to higher prices of coffee (+17.7%) and fruit juices (+4.3%). As regards food, prices were up especially for oils and fats (+12.3%; including margarine: +24.2%). Consumers had to pay markedly more than a year earlier also for meat (+5.6%) and fish (+4.5%). In contrast, vegetables cost considerably less than a year earlier (−9.5%; including potatoes: −23.7%).

The prices of consumer goods with a medium-term life in January 2012 were up 2.0% on a year earlier (for example clothing: +2.7%). The prices of durable consumer goods rose just slightly by 0.3% over the same period. For some of those product groups, prices even decreased (for example major electric household appliances: −0.9%; information processing equipment: −10.4%).

Prices of services rose 1.2% on a year earlier. The main factor here was again the development of net rents exclusive of heating expenses (+1.3%). Prices were also up for air tickets (+14.0%) and package holidays (+2.5%). In contrast, prices decreased for communication (−2.0%) and education (−12.2%), the latter being mainly due to the abolishment of tuition fees in Nordrhein-Westfalen in October 2011.
 
 

Change in January 2012 on December 2011

The 0.4% price decrease in January 2012 compared with December 2011 was mainly due to seasonal effects. Especially the prices of package holidays (–16.8%), accommodation services (–14.8%) and air tickets (–4.2%) were markedly below the price level of the vacation month of December. Also, as shops started giving discounts on winter goods, especially the prices of clothing (–3.8%) were down on the previous month.

Energy prices were up 1.9% in January 2012 compared with December 2011. The prices of heating oil (+3.9%) and motor fuels (+2.7%) rose again. In January 2012, the prices of other household energy types increased, too. However, the increase in electricity prices in January 2012 (+1.1% on December 2011) was markedly smaller than a year ago (January 2011: +5.0% on December 2010).

The overall increase in food prices (+0.9%) on the previous month was due to opposite price developments. For example, vegetable prices were markedly up (+6.2%; including tomatoes: +22.3%), whereas prices of oils and fats were down (–1.3%; including butter: –1.5%).

 
The harmonised index of consumer prices (HICP) for Germany, which is calculated for European purposes, rose 2.3% in January 2012 on January 2011. Compared with December 2011, the index was down 0.5%. The HICP estimate of 1 February 2012 has thus been confirmed.
 
The estimate of 29 December 2011 for the consumer price index (CPI) was thus confirmed. For the HICP, too, the annual result was confirmed, although the December result was slightly corrected downwards.
 
Further information on consumer price statistics is provided by Fachserie 17, Reihe 7, which is available on the website of the Federal Statistical Office at www.destatis.de, path: publications, Start > Publications > Specialized publications > Prices. Detailed data and long time series on consumer price statistics can be retrieved from the Genesis Online database (table “Verbraucherpreisindex” (61111-0004 and 61111-0006).
 
The relevant data can be found in the revision report Verbraucherpreisindex für Deutschland - Lange Reihen (only in german) in the publications.

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