Consumer prices in January 2009: Presumably +0.9% on January 2008
Mineral oil products have downward effect on inflation rate
WIESBADEN – As reported by the Federal Statistical Office (Destatis), the consumer price index for Germany is expected to rise 0.9% in January 2009 on January 2008 (December 2008: +1.1%), according to results available from six Länder. Compared with the previous month, the rate of change will be –0.5%.
The declining inflation rate is mainly due to the favourable price trend for motor fuels and liquid fuel. Motor fuel prices were down by between 13.5% and 15.6% on January 2008, depending on the Land. Compared with the previous month, however, they rose for the first time in three months by between 1.3% and 4.4%. Prices of liquid fuel, too, showed a month-on-month increase by between 2.2% and 8.9% for the first time since August 2008. Nevertheless, they were by between 12.4% and 21.3% below the level of January 2008. Electricity prices, too, were up by between 2.1% and 6.5% on December 2008 and were thus by between 3.7% and 9.1% above the level a year earlier.
The harmonised consumer price index for Germany, which is calculated for European purposes, is expected to increase by 0.9% from January 2008 to January 2009 (December 2008: +1.1%). Compared with the previous month, the index will be down 0.6%.
The final results for January 2009 will be released on 11 February.
