Consumer prices in May 2009: Presumably unchanged on May 2008
WIESBADEN – As reported by the Federal Statistical Office (Destatis), the consumer price index for Germany is expected to remain unchanged in May 2009 compared with May 2008 (April 2009: +0.7%), according to results available from six Länder. Compared with the previous month, the index will be down by 0.1%. A price level that has not changed on a year earlier has never been calculated for the Federal Republic since German unification. In the former territory of the Federal Republic, this was the case for the last time in May 1987. For the current inflation rate, it should be taken into account that the strong decrease is mainly due to the marked price rises for mineral oil products observed in the first half of 2008. The price increases recorded then are gradually no longer included in the calculation of current inflation rates.
Compared with the previous month, the prices of liquid fuel and motor fuels did not change much. Depending on the Land, motor fuel prices rose by between 0.2% and 3.6%, liquid fuel prices changed by between –0.7% and +1.2%. Compared with May 2008, however, the prices of mineral oil products were markedly lower (motor fuels: –16.1% to –18.4%; liquid fuel: –33.9% to –43.9%). Gas prices were down by up to 1.1% on April. Compared with a year earlier, however, gas prices were still higher by between 0.9% and 6.2%. Food prices fell by between 0.2% and 1.0% on April and by between 0.4% and 2.1% on a year earlier.
The harmonised consumer price index for Germany, which is calculated for European purposes, is expected to decrease by 0.1% from May 2008 to May 2009 (April 2009: +0.8%). Compared with the previous month, the index will be down by 0.2%.
The final results for May 2009 will be released on 10 June.
