Press release No. 329 of 29 August 2024
Consumer price index, August 2024:
+1.9% on the same month a year earlier (provisional)
-0.1% on the previous month (provisional)
Harmonised index of consumer prices, August 2024
+2.0% on the same month a year earlier (provisional)
-0.2% on the previous month (provisional)
WIESBADEN – The inflation rate in Germany is expected to be +1.9% in August 2024. It is measured as the change in the consumer price index (CPI) compared with the same month a year earlier. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to decline by 0.1% on July 2024. The inflation rate excluding food and energy, often referred to as core inflation, is expected to be +2.8%.
| Overall index / subindex | Weight | May 2024 | June 2024 | July 2024 | August 20241 |
|---|---|---|---|---|---|
| per thousand | percent | ||||
| 1: Provisional figures. 2: Core inflation. 3: Household energy and motor fuels. | |||||
| Overall index | 1,000 | 2.4 | 2.2 | 2.3 | 1.9 |
| Overall index excluding food and energy2 | 821.41 | 3.0 | 2.9 | 2.9 | 2.8 |
| Services | 503.36 | 3.9 | 3.9 | 3.9 | 3.9 |
| Goods | 496.64 | 1.0 | 0.8 | 0.9 | 0.0 |
| including: | |||||
| Energy3 | 73.90 | -1.1 | -2.1 | -1.7 | -5.1 |
| Food | 104.69 | 0.6 | 1.1 | 1.3 | 1.5 |
Inflation Calculator for personal rate of inflation:
Consumers can use the Personal Inflation Calculator (only in German) of the Federal Statistical Office to adapt their monthly consumption expenditure on individual product groups according to their own consumption patterns and to calculate their personal inflation rate.
Methodological notes:
In the Euro area, the harmonised index of consumer prices (HICP) is used for the purposes of monetary policy. The consumer price index (CPI) and the HICP also differ in terms of coverage, methodology and weighting. This explains the differences between the CPI and the HICP for Germany. In contrast to the HICP, the CPI also includes household expenditure on owner-occupied housing, games of chance and broadcasting fees. In addition, the HICP product weights are updated annually. Explanatory notes on this issue are provided on the website of the Federal Statistical Office, a methodological paper is also available.
More information:
The final results for August 2024 will be released on 10 September 2024.
