Consumer prices in November 2008: Presumably +1.4% on November 2007
WIESBADEN – As reported by the Federal Statistical Office (Destatis), the consumer price index for Germany is expected to rise 1.4% in November 2008 on November 2007 (October 2008: +2.4%), according to results available from six Länder. Compared with the previous month, the rate of change will be –0.5%. The sharply falling inflation rate is mainly due to the price decrease for mineral oil products. Motor fuel prices in the six Länder were down by between 8.1% and 10.0% on October 2008. Compared with a year earlier, motor fuel prices decreased even by between 11.8% and 14.5%. Prices of liquid fuel fell by between 5.1% and 13.0% on the previous month and in most cases were below November 2007 levels (–6.1% to +0.9%).
When examining the rather low year-on-year rate of price increase, it should be taken into account that for November last year unusually high price rises were observed. Consequently, a basis-related effect now has an additional downward impact on the inflation rate.
The harmonised consumer price index for Germany, which is calculated for European purposes, is expected to increase by 1.5% from November 2007 to November 2008 (October 2008: +2.5%). Compared with the previous month, the index will be down 0.5%. The final results for November 2008 will be released on 17 December. >>> brief methodological description
