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14.06.2018 06:09

Consumer prices in Germany were 2.2% higher in May 2018 than in May 2017

The the inflation rate, as measured by the consumer price index, was markedly up on the preceding months An inflation rate of +2.2% was last recorded in February 2017. Compared with April 2018, the consumer price index rose by 0.5% in May 2018. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 May 2018.

The rise in the inflation rate in May 2018 was mainly due to energy prices. The year-on-year increase in energy prices (+5.1%) was markedly higher than in the previous month (April 2018: +1.3%). In particular, prices of heating oil (+24.3%) and motor fuels (+8.2%) were up in May 2018 on May 2017. Year-on-year price rises were also recorded for electricity (+1.5%) and charges for central and district heating (+0.5%), while prices of solid fuels (-1.5%) and gas (-1.1%) were down. Excluding energy prices, the inflation rate in May 2018 would have been +1.8%; excluding the prices of mineral oil products, it would have been +1.7%.

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