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Consumer prices in November 2016: +0.8% on November 2015

2016-12-13 09:16:17

WIESBADEN - Consumer prices in Germany were 0.8% higher in November 2016 than in November 2015. This means that the inflation remains at the two-year-high reached in the previous month. Compared with October 2016, the consumer price index rose by 0.1% in November 2016. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 29 November 2016.

The development of energy prices (-2.7% on November 2015) had a downward effect on the overall rise in prices in November 2016, as had been the case in the preceding months. The year-on-year decrease in energy prices thus accelerated (in October 2016 it had been -1.4% on October 2015). Compared with a year earlier, household energy prices were down in November 2016 (-2.9%, including charges for central and district heating: -6.9%; heating oil: -6.7%; gas: -4.1%), as were motor fuel prices (-2.2%). Excluding energy prices, the inflation rate in November 2016 would have been 1.2%.

Food prices rose 1.2% in November 2016 compared with November 2015. The price increase was much more marked than in October 2016 (0.0% on October 2015). In November 2016, prices were up on a year earlier especially for edible fats and oils ( 13.3%, including butter: 26.0%, and margarine: 2.3%). Prices rose also, among other things, for confectionery ( 1.4%, including chocolate slabs: 6.0%), dairy products and eggs ( 1.5%, including hard cheese: 3.1% and eggs: 9.0%) and fish and fish products ( 2.8%). In contrast, consumers paid slightly less, for example, for vegetables (-0.4%).

Prices of goods (total) rose 0.5% from November 2015 to November 2016. In addition to food prices ( 1.2%), prices were up on a year earlier especially for motor vehicles ( 1.7%), tobacco products ( 3.0%) and newspapers and periodicals ( 3.9%). Price decreases were observed for energy (-2.7%) and, among other things, consumer electronics (-4.4%).

Prices of services rose 1.1% from November 2015 to November 2016. This increase was mainly due to the development of net rents exclusive of heating expenses ( 1.4% on November 2015), as households spend roughly a fifth of their consumption expenditure on this item. Larger year-on-year price increases were observed, among other things, for catering services in restaurants, cafes and the like ( 1.9%), insurances ( 2.7%) and services of social facilities ( 4.1%). Consumer-friendly price developments were recorded for package holidays (-4.1%), air tickets (-2.0%) and telecommunications services (-1.3%).

Compared with October 2016, consumer prices as a whole rose slightly by 0.1% in November 2016. Especially food prices were up by 1.3%. Prices were considerably up for dairy products and eggs ( 6.5%, including curd: 22.0%; cream: 20.1%; UHT milk: 19.7%). Other products for which consumers had to pay more than a month earlier are edible oils and fats ( 2.1%, including butter: 3.5%) and vegetables ( 2.4%).

The rise in food prices in November 2016 was offset by the decrease in energy prices (-1.2%). Prices were down here especially for heating oil (-5.1%) and motor fuels (-1.9%, including supergrade petrol: -2.1% and diesel fuel: -1.5%).

Publisher: Federal Statistical Office of Germany Press Office Indication of source requested for distribution

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Kategorie: Federal Statistical Office of Germany News