Press release No.315 / 2010-09-09

Consumer prices in August 2010: +1.0% on August 2009

Inflation rate slightly decreasing

WIESBADEN – As reported by the Federal Statistical Office (Destatis), in August 2010 the consumer price index for Germany rose 1.0% on August 2009. The rise in prices thus slowed down a little in August 2010. In July 2010, the rate of inflation, measured by the consumer price index, had been +1.2%. The rate is still below the threshold of two percent in August 2010, which is important for monetary policy. Compared with July 2010, the consumer price index remained unchanged (± 0.0%). The estimate for August 2010 was thus confirmed.

Energy prices in August 2010 were up a total 2.5% on August 2009, and especially the prices of mineral oil products (+7.3%) are well above the level of August 2009 (of which heating oil: +15.6%; motor fuels: +5.3%). Food prices also rose above average by 2.8% on a year earlier, while striking price increases (+11.8%) were observed for seasonal food (fresh fruit and vegetables, fresh fish). Not considering energy and food, which together account for just under 20 percent of household expenditure, the inflation rate would have been 0.7% in August 2010.

As regards energy products in August 2010, a price increase for electricity (+3.3%) was recorded compared with August 2009, in addition to the considerable price rise for mineral oil products. However, gas prices (−4.1%) as well as charges for central and remote heating (−6.8%), were down on a year earlier.

As regards the food prices increase in August 2010, not only the higher prices of seasonal food were striking, but also the sharp price increase for oils and fats (+16.5%), which is due to the unusual price development for butter. In August 2010 consumers had to pay considerably more for butter (+41.9%) than a year earlier as a result of successive price rises in the last few months. However, confectionery was somewhat cheaper (−1.9%; including sugar: −12.7%), the same applied to bread and cereals (−0.4%).
On average, prices of goods were up 1.2% compared with August 2009. In the same period, the prices of services rose 0.8%. However, opposite price developments were observed in both product groups (for example non-durable consumer goods: +2.0%; consumer durables: −0.4% as well as net rents exclusive of heating expenses: +1.1%; package holidays: −1.0%).

Change in August 2010 on July 2010

Compared with July 2010, prices generally remained stable in August 2010. More specifically, different month-on-month price developments were observed: What was typical for that time of the year is the seasonal price decrease for some types of fruit (in particular grapes: −22.1%; bananas: −9.8%) and vegetables (−4.0%; including potatoes: −4.8%). However, when compared with July 2010, consumers in August 2010 had to pay an average 2.2% more for clothing, which was due to the gradual changeover form the summer to the autumn/winter collection.

A slight price decrease against July 2010 was recorded for energy products in August 2010 (−0.2%; including heating oil: −0.2%; motor fuels: −0.9%). Food prices were down, too (−0.9% on July 2010). Apart from the seasonal price decreases especially for fruit and vegetables, however, food price rises were also recorded in August 2010 compared with July 2010, in particular for oils and fats (+0.9%) as well as for fish (+0.8%).

The harmonised index of consumer prices (HICP) for Germany, which is calculated for European purposes, rose 1.0% in August 2010 on August 2009. Compared with July 2010, the index was up 0.1%. The HICP estimate of 27 August 2010 was thus slightly revised upwards.

Further information on consumer price statistics is provided by Fachserie 17, Reihe 7, which is available free of charge via the publications of the Federal Statistical Office. Detailed information and long time series on consumer price statistics can also be retrieved free of charge from the database Genesis Online.

>>> Brief methodological description

Consumer price index for Germany
Overall index / product groups ________ Overall index / subindex	Weighting	Index 2005 = 100	Change on the same period a year earlier	Change on the preceding month
	in per mill	Index 2005 = 100	in per cent
Overall index in August 2010	1,000.00	108.4	1.0	0.0
Food and non-alcoholic-beverages	103.55	112.1	2.4	–0.7
Food	89.99	112.6	2.8	–0.9
Milk, cheese and eggs	14.44	112.8	2.5	0.2
Oils and fats	2.55	128.1	16.5	0.9
Alcoholic beverages and tobacco	38.99	113.0	0.3	0.1
tobacco	22.43	116.3	–0.1	–0.1
Clothing and footwear	48.88	101.3	0.3	1.8
Housing, water, electricity, gas and other fuels	308.00	110.2	1.2	0.1
Net rent exclusive of heating expenses	203.30	106.0	1.1	0.1
Household energy	59.82	124.9	1.1	0.3
Electricity	24.61	130.9	3.3	0.4
Gas	12.85	118.5	–4.1	0.3
Heating oil	9.21	121.5	15.6	–0.2
Furnishings, household equipment and routine maintenance of the house	55.87	104.6	0.0	0.2
Health	40.27	104.8	0.6	0.1
Transport	131.90	111.9	1.8	–0.2
Motor fuels	35.37	115.0	5.3	–0.9
Supergrade petrol	19.29	114.7	4.3	–0.9
Diesel oil	8.15	113.8	8.5	–0.8
Communication	31.00	88.0	–1.8	–0.2
Recreation and culture	115.68	103.4	0.0	0.4
Package holidays	25.93	117.9	–1.0	1.3
Education	7.40	132.0	0.6	0.5
Restaurants and hotels	43.99	112.2	1.3	–0.4
Miscellaneous goods and services	74.47	108.8	1.0	0.4
Overall index
Excluding heating oil and motor fuels	955.42	108.1	0.7	0.2
Excluding household energy	940.18	107.4	1.0	0.1
Excluding energy (household energy and motor fuels)	904.81	107.1	0.8	0.1
Goods, total	493.00	108.9	1.2	0.0
Non-durable consumer goods	305.11	114.5	2.0	–0.3
Consumer goods with a medium-term life	95.24	102.2	0.2	1.0
Durable consumer goods	92.65	97.4	–0.4	0.2
Services	507.00	108.0	0.8	0.1

Consumer price index for Germany
Overall index ________ Year / Month		Index 2005 = 100	Change on the same period a year earlier	Change on the preceding month
Overall index ________ Year / Month		Index 2005 = 100	in per cent
2008 Annual average		106.6	2.6	–
2009 Annual average		107.0	0.4	–
2009	August	107.3	0.0	0.2
	September	106.9	–0.3	–0.4
	October	107.0	0.0	0.1
	November	106.9	0.4	–0.1
	December	107.8	0.9	0.8
2010	January	107.1	0.8	–0.6
	February	107.5	0.6	0.4
	March	108.0	1.1	0.5
	April	107.9	1.0	–0.1
	May	108.0	1.2	0.1
	June	108.1	0.9	0.1
	July	108.4	1.2	0.3
	August	108.4	1.0	0.0

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