Retail prices in March 2009: –0.2% on a year earlier
WIESBADEN – As reported by the Federal Statistical Office (Destatis), retail prices declined 0.2% in March 2009 on a year earlier. The very low rates of price increase in retail trade, which have been observed for some months, are basically the result of the price trends recorded for retail sale of automotive fuel in specialised stores (March 2009 on March 2008: –16.3%) and retail sale of fuels from stock (liquid fuel: –28.6%). In evaluating these results, the fact has to be considered that the prices of the above goods were up considerably a year ago. The peak of price rises was reached in summer 2008. The extraordinarily high price level observed at that time now serves as a basis for calculating the current rates of price increase. The above figures are the result of a recalculation of the retail price index (index base 2005). In the context of this recalculation, the 2008 edition of the Classification of Economic Activities (WZ 2008) was introduced, too. The most important change relates to the inclusion of retail sale of automotive fuel in specialised stores in the retail price index. So far, filling stations have been covered by sales of motor vehicles.
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