Press release No. 005 of 6 January 2022
Consumer price index, December 2021:
+5.3% on the same month a year earlier (provisional)
+0.5% on the previous month (provisional)
+3.1% on an annual average in 2021 compared with 2020 (provisional)
Harmonised index of consumer prices, December 2021:
+5.7% on the same month a year earlier (provisional)
+0.3% on the previous month (provisional)
+3.2% on an annual average in 2021 compared with 2020 (provisional)
WIESBADEN – The inflation rate in Germany, measured as the year-on-year change in the consumer price index, is expected to be +5.3% in December 2021. Compared with November 2021, consumer prices are expected to increase by 0.5%. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that, on an annual average, the inflation rate is expected to stand at 3.1% in 2021.
Overall index / subindex | Weight | September 2021 | October 2021 | November 2021 | December 2021 1 |
---|---|---|---|---|---|
per thousand | percent | ||||
1: Provisional figure. 2: Household energy and motor fuels. 3: Net rents and other rents. | |||||
Overall index | 1,000 | 4.1 | 4.5 | 5.2 | 5.3 |
Goods | 468.16 | 6.1 | 7.0 | 7.9 | 7.8 |
including: | |||||
Energy 2 | 103.83 | 14.3 | 18.6 | 22.1 | 18.3 |
Food | 84.87 | 4.9 | 4.4 | 4.5 | 6.0 |
Services | 531.84 | 2.5 | 2.4 | 2.9 | 3.1 |
including: | |||||
Rents 3 | 207.26 | 1.4 | 1.4 | 1.4 | 1.4 |
There are a number of reasons for the high inflation rates since July 2021, which include base effects due to low prices in 2020. In this context, especially the temporary value added tax reduction and the sharp decline in mineral oil product prices have had an upward effect on the current overall inflation rate. Apart from the usual market developments, additional factors are the introduction of CO2 pricing as of January 2021 and crisis-related effects, such as marked price increases at upstream stages in the economic process. So far, only some of these increases have had a moderate impact on the consumer price index and the inflation rate.
More information:
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). There we also shed some light on the role of base effects.
Using our Personal Inflation Calculator, you may also compare the official inflation rate with your personal one by modifying the weights of some products so that these correspond better to your own consumer habits.
The final results for December 2021 and annual averages for 2021 will be released on 19 January 2022.
On 7 January 2022, the Statistical Office of the European Union (Eurostat) will publish its flash estimate of the euro area inflation rate for December 2021.