Press Inflation rate at +4.5% in October 2021

Inflation rate again high due to continued increase in energy prices in particular

Press release No. 513 of 10 November 2021

Consumer price index, October 2021
+4.5% on the same month a year earlier (provisional result confirmed)
+0.5% on the previous month (provisional result confirmed)
Harmonised index of consumer prices, October 2021
+4.6% on the same month a year earlier (provisional result confirmed)
+0.5% on the previous month (provisional result confirmed)

WIESBADEN −The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +4.5% in October 2021. In September 2021, it had been +4.1%. A higher inflation rate was last measured in August 1993 (+4.6%). The Federal Statistical Office (Destatis) also reports that consumer prices were up 0.5% on September 2021.

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Temporary special effects continuing to have an upward effect on the inflation rate

There are various reasons for the high inflation rate, which include base effects due to the low prices in 2020. Especially the temporary value added tax reduction in the second half of 2020 and the sharp decline in mineral oil product prices a year ago have had an upward effect on the current overall inflation rate. In addition, crisis-related effects, such as delivery bottlenecks and marked price increases at upstream stages in the economic process - which are also reflected in the consumer price index - are becoming stronger.

Energy prices up 18.6% year on year, while heating oil prices doubled

The prices of goods (total) increased by 7.0% between October 2020 and October 2021, which was above average. Especially the increase in energy product prices (+18.6%) was markedly higher than overall inflation. “The rate of price increase regarding energy was up for the fourth month in a row. This was basically due to base effects as we compare current prices with the very low prices of the previous year.At the same time, the CO2 charge introduced at the beginning of the year and the fact that crude oil prices were on the rise again in the world market had an upward effect on the rate of price increase regarding energy products”, said Christoph-Martin Mai, Head of the Consumer Prices Section at the Federal Statistical Office. The prices of heating oil doubled compared with a year earlier (+101.1%), and those of motor fuels increased substantially (+35.0%). The prices of natural gas (+7.4%) and electricity (+2.5%) rose, too.

4.4% increase in food prices compared with a year earlier

Food prices were up 4.4% in October 2021 compared with the same month of the previous year. Consumers had to pay markedly more, for example, for dairy products and eggs (+6.0%) and for bread and cereals (+5.0%). Prices of non-durable consumer goods in general rose 8.7%. Price increases were also recorded for durable consumer goods (+3.7%, including vehicles: +7.2%; furniture and lighting equipment: +5.0%).

Inflation rate excluding energy at +3.1%

The year-on-year increases in energy and food prices had a clear upward effect on the inflation rate. Excluding energy prices, the inflation rate would have been +3.1% in October 2021; excluding the prices of both product groups, it would have been +2.9%.

Service prices up 2.4% year on year

The prices of services (total) increased by 2.4% in October 2021 compared with the same month a year earlier. Net rents exclusive of heating expenses, which are important as they account for a large part of household final consumption expenditure, rose by 1.4%. Larger price increases were observed, among other things, for maintenance and repair of vehicles (+5.5%), services of social facilities (+4.7%) and for catering services in restaurants, cafés and the like (+3.8%).

Substantial month-on-month rise of 17.5% in heating oil prices

Compared with September 2021, the consumer price index rose by 0.5% in October 2021. The prices of energy products (total) in particular increased (+4.0%). A substantial price increase was recorded for heating oil (+17.5%). Motor fuel prices were markedly up, too (+5.8%). Prices of food (total) remained nearly unchanged on the previous month (-0.1%, including fresh vegetables: -2.7%; but coffee: +1.1%). Seasonal price decreases were observed for package holidays (-4.7%).

Methodological note:

For more background information and analyses regarding the consequences of the coronavirus pandemic for price development please refer to our “StatGespräch” podcast on inflation (in German). Here we shed light on the role of base effects and the future of price collection.

The consumer price index results are also available on the Corona Statistics webpage of the Federal Statistical Office together with other indicators which can be used to assess the economic consequences of the coronavirus pandemic.

Crisis Monitor enables comparison between coronavirus crisis and financial and economic crisis

The consumer price index also forms part of the Crisis Monitor (www.destatis.de/krisenmonitor), by means of which the Federal Statistical Office compares the development of major short-term indicators in the corona crisis and the financial and economic crisis of 2008/2009. The Crisis Monitor complements the Corona statistics webpage (www.destatis.de/corona), which provides statistical information on the economic and social consequences of the coronavirus pandemic.

 

Consumer price index for Germany October 2021
Overall index / subindexWeightingIndex
2015 = 100
Change on
the same
period a
year earlier
Change on
the preceding
month
in per millin per cent

1: Results do not include charges.

( ) Limited informational value due to somewhat limited statistical reliability as imputation rates are high (over 50%).

Overall index1,000.00110.74.50.5
Food and non-alcoholic-beverages96.85113.34.40.0
Food84.87114.04.4-0.1
Meat and meat products18.60118.94.50.7
Fruit8.88114.61.1-0.7
Vegetables11.08110.64.0-1.8
Alcoholic beverages and tobacco37.77117.62.70.3
Clothing and footwear45.34105.91.10.4
Housing, water, electricity, gas and other fuels324.70109.23.70.8
Net rent exclusive of heating expenses196.32109.01.40.2
Household energy68.82108.310.83.1
Electricity25.92112.02.50.4
Gas 113.53102.17.41.6
Heating oil 17.01144.8101.117.5
Furniture, lighting equipment, appliances and other household equipment50.04106.03.70.3
Health46.13105.81.5-0.3
Transport129.05117.112.92.0
Motor fuels35.01124.935.05.8
Supergrade petrol25.66122.632.14.7
Diesel fuel8.64131.543.98.6
Communication26.7294.21.4-0.1
Recreation and culture113.36109.92.8-0.9
Package holidays26.62112.1(2.4)-4.7
Education9.02104.71.90.0
Restaurant and accommodation services46.77116.43.70.3
Miscellaneous goods and services74.25112.33.90.1
Overall index 
Excluding food and energy811.30109.92.90.1
Excluding energy (household energy and motor fuels)896.17110.33.10.1
Excluding heating oil and motor fuels957.98109.93.10.1
Goods468.16110.77.01.1
Non-durable consumer goods297.54113.48.71.5
Energy103.83113.918.64.0
Services531.84110.62.4-0.1

More information on consumer price statistics is contained in Fachserie 17, Reihe 7 "Verbraucherpreise für Deutschland". Detailed data of consumer price statistics can be found in the tables on the consumer price index (61111-0004) and (61111-0006) and on the harmonised index of consumer prices (61121-0002) and (61121-0004) in the GENESIS-Online database.

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