As reported by the Federal Statistical Office (Destatis), the consumer
price index for Germany rose 2.8% between February 2007 and February
2008. Compared with January 2008, the index was up 0.5%. In January
2008, the year-on-year rate of increase was +2.8%, too. The price rise
was hence unchanged. The estimate for February 2008 was thus confirmed.
The high year-on-year rate of price increase in February 2008 is
largely characterised by markedly higher energy prices (household
energy and motor fuels). Although the share of energy in the
consumption expenditure of households is less than 10%, it accounts for
nearly one third of the overall price increase. In a year-on-year
comparison, and referring to energy products, prices were up especially
for liquid fuel (+32.9%) and motor fuels (+11.8%; including Diesel
fuel: +15.9% and supergrade petrol: +9.9%). Electricity prices, too,
increased above average (+7.1%) on a year earlier, whereas gas prices
were down by 1.4%. Not considering the price trend for mineral oil
products, the year-on-year rate of price increase would have been 2.3%.
Prices of food and non-alcoholic beverages were up an average 7.4% from
February 2007 to February 2008 (of which food: +7.8% and non-alcoholic
beverages: +5.1%). Vegetable prices were down by 1.7% on a year
earlier. However, marked price rises were again observed for milk,
cheese and eggs (+23.7%) as well as oils and fats (+18.3%). Also, for
fruit (+9.6%) as well as bread and cereals (+8.3%), consumers had to
spend more than a year earlier. Among non-alcoholic beverages, prices
were markedly up in February 2008 for mineral water, juices and
Since April 2007 already, the price rise in education (+34.9% in
February 2008 on a year earlier) has had an impact on the year-on-year
rate of price increase. The reason is the introduction of tuition fees
in some Länder. Marked price increases were also recorded for
transport (+4.3%). Consumer-friendly year-on-year price trends were
again observed for telephone and telefax equipment (–19.0%),
information processing equipment (–18.5%) as well as photographic
and cinematographic equipment (–10.2%).
The 0.5% price increase on January 2008 is mainly due to seasonal price
rises for package holidays (+8.6%) and accommodation services (+4.1%).
Among seasonal goods, prices were up, among other things, for liquid
Prices of food and non-alcoholic beverages remained stable on the
previous month (+0.1%), with marked price decreases observed especially
for vegetables (–4.7%; including lettuce or iceberg salad:
–26.4% and tomatoes: –18.5%). Particularly striking was the
price trend for some foods: Following the considerable price rise a
year earlier, butter cost 3.4% less than in the previous month; since
December 2007, butter prices were down 13.7%. However, consumers had to
spend 6.2% more on margarine as a butter substitute in February 2008.
Price rises were also observed for chocolate bars (+6.3% on January
2008), following relative price stability in 2006 and 2007.
The harmonised consumer price index (HICP) for Germany, which is
calculated for European purposes, rose 2.9% in February 2008 on
February 2007. Compared with the previous month, the index was up 0.5%.
The HICP estimate of 29 February 2008 was thus confirmed.For further information please call our service telephone number,
tel: (+49-611) 75-4777,