Press release No. 389 of 11 October 2024
Consumer price index, September 2024
+1.6% on the same month a year earlier (provisional result confirmed)
0.0% on the previous month (provisional result confirmed)
Harmonised index of consumer prices, September 2024
+1.8% on the same month a year earlier (provisional result confirmed)
-0.1% on the previous month (provisional result confirmed)
WIESBADEN – The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +1.6% in September 2024. At +1.9%, the rate of change in August 2024 had already dropped below the two percent mark, having reached +2.3% in July 2024. The last time inflation was lower than in September 2024 was over three years ago, when it stood at +1.5% in February 2021. "In particular, further reductions in energy prices slowed inflation more significantly in September 2024 than in the previous months. On the other hand, price increases for services, which are still above average, drove inflation up," says Ruth Brand, President of the Federal Statistical Office (Destatis). Compared with August 2024, consumer prices remained stable in September 2024 (0.0%).
Energy product prices fell by 7.6% compared with September 2023
Registering a decline of 7.6%, energy product prices in September 2024 were significantly lower than in the same month a year earlier. Following a drop of 5.1% in August 2024 and 1.7% in July 2024, the decline in prices has therefore intensified once again. In September 2024, the prices of both motor fuels (-12.6%) and household energy (-4.0%) were down year on year. With regard to household energy, consumers particularly benefited from lower prices for heating oil (-17.9%) and firewood, wood pellets and other solid fuels (only in German) (-12.0%). Electricity (-6.4%) and natural gas prices (-1.9%) were also down from September 2023. By contrast, district heating was still considerably more expensive (+31.8%) than a year earlier.
Food prices up 1.6% on September 2023
Food prices (only in German) in September 2024 were 1.6% higher than in the same month a year earlier, following an increase of 1.5% in August 2024. Year on year, notable price increases were recorded in September 2024 for edible fats and oils (+16.6%, including olive oil (only in German): +29.6% and butter: +29.3%). In September 2024, consumers also had to pay more than a year earlier for other food groups such as sugar, jam, honey and other confectionery (+5.4%), fruit (+3.7%) and bread and cereals (+1.2%).
Inflation rate excluding food and energy at +2.7%
Excluding energy prices, the inflation rate stood at +2.5% in September 2024. The inflation rate excluding food and energy, often referred to as core inflation, was somewhat higher in September 2024, at +2.7%. Both rates have notably exceeded overall inflation since January 2024, thereby demonstrating that inflation was above average in other important product groups.
Prices of goods down 0.3% compared with September 2023
The prices of goods (total) decreased from September 2023 to September 2024 (-0.3%, of which non-durable consumer goods: -0.6%, but durable consumer goods: +0.1%). Aside from the significant decline in energy prices (-7.6%), individual products were, however, more expensive, particularly non-alcoholic beverages (+6.0%), tobacco products (+5.2%) and new passenger cars (+3.1%).
Above-average increase in service prices of 3.8% year on year
Compared with the same month of the previous year, the prices of services (total) were up 3.8% in September 2024, therefore remaining at a markedly higher level than overall inflation. Before, services constantly registered a year-on-year price increase of +3.9% in May 2024 to August 2024. In the period from September 2023 to September 2024, prices were up, in particular, for insurance services (+12.9%, including transport insurance (only in German): +25.8%), services of social facilities (only in German) (+7.7%) and catering services in restaurants, cafés and the like (+6.7%). Other notable price rises were observed, for instance, for the maintenance and repair of vehicles (+5.5%), package international holidays (+4.9%), and water supply and miscellaneous services relating to the dwelling (+4.6%). Net rents exclusive of heating expenses also continue to be a major factor contributing to the development of service prices. At +2.1%, the rate of price increase exceeded the inflation rate. By contrast, some services cost less than in the same month a year earlier, for example tickets for international flights (-3.9%) and telecommunications services (-0.6%).
Prices of mineral oil products markedly down by 4.0% month on month
Compared with August 2024, the consumer price index remained stable in September 2024. The prices of energy (total) were down 1.9%. Lower prices were recorded, in particular, for mineral oil products, heating oil and motor fuels (-4.0% each). By contrast, food prices (total) were up 0.5% month on month. There was a substantial increase in butter prices (+3.9% compared with August 2024). There were also seasonal price fluctuations in September 2024: for example, clothing prices increased (+4.7%), whereas the price of package international holidays decreased (-6.3%).
Methodological notes:
An overview explaining the different measures of the Federal Government and their impact on the consumer price index is available on the website of the Federal Statistical Office.
In the Euro area, the harmonised index of consumer prices (HICP) is used for the purposes of monetary policy. Apart from the individual purposes they serve, the consumer price index (CPI) and the HICP 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 matter are available on the website of the Federal Statistical Office together with the HICP results and a methodological paper on the HICP.
Inflation Calculator for personal rate of inflation:
Consumers can use the Personal Inflation Calculator 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. In addition, the Price Kaleidoscope gives an overview of the price trend and the weights of various products.
Overall index / subindex | Weighting | Index | Change on same period of previous year | Change on the previous month |
|---|---|---|---|---|
in per mill | % | |||
| Overall index | 1,000.00 | 119.7 | 1.6 | 0.0 |
| Food and non-alcoholic-beverages | 119.04 | 133.0 | 2.1 | 0.5 |
| Food | 104.69 | 133.3 | 1.6 | 0.5 |
| Meat and meat products | 22.16 | 129.7 | 0.2 | 0.4 |
| Fruit | 11.62 | 119.2 | 3.7 | 2.6 |
| Vegetables | 13.72 | 126.3 | 0.3 | 0.1 |
| Alcoholic beverages and tobacco | 35.26 | 122.8 | 3.2 | 0.1 |
| Clothing and footwear | 42.25 | 110.4 | 2.1 | 3.9 |
| Housing, water, electricity, gas and other fuels | 259.25 | 116.2 | 1.0 | 0.1 |
| Actual net rent exclusive of heating expenses | 68.30 | 108.2 | 2.2 | 0.2 |
| Imputed net rent exclusive of heating expenses | 104.13 | 107.3 | 2.1 | 0.1 |
| Household energy | 43.44 | 149.4 | -4.0 | -0.4 |
| Electricity | 24.50 | 126.7 | -6.4 | -0.2 |
| Gas 1 | 6.07 | 190.3 | -1.9 | 0.1 |
| Healting oil 1 | 1.70 | 184.5 | -17.9 | -4.0 |
| Furniture, lighting equipment, appliances and other household equipment | 67.78 | 117.1 | -1.1 | -0.3 |
| Health | 55.49 | 108.0 | 2.6 | 0.0 |
| Transport | 138.22 | 123.7 | -1.7 | -1.1 |
| Motor fuels | 30.46 | 133.9 | -12.6 | -4.0 |
| Supergrade petrol | 23.19 | 132.0 | -12.0 | -4.3 |
| Diesel fuel | 6.92 | 138.5 | -14.9 | -3.2 |
| Communication | 23.35 | 98.8 | -1.2 | 0.0 |
| Recreation and culture | 104.23 | 117.8 | 1.5 | -0.7 |
| Package holidays | 13.22 | 142.4 | 4.6 | -5.6 |
| Education | 9.06 | 115.8 | 5.1 | 2.6 |
| Restaurant and accommodation services | 47.20 | 128.4 | 6.1 | 0.2 |
| Miscellaneous goods and services | 98.87 | 121.7 | 6.3 | 0.3 |
| Overall index, excluding food and energy 2 | 821.41 | 115.9 | 2.7 | 0.2 |
More information:
Detailed results can be found in the tables on the consumer price index (61111-0004) and (61111-0006) and on the harmonised index of consumer prices (61121-0002) and (61121-0006) in the GENESIS-Online database. Special items shown in Tables (61111-0006) and (61121-0006) contain CPI and HICP results which are used to measure "core inflation". The table "Verbraucherpreisindex – Preisentwicklung für Nahrungsmittel" (only in German) contains information on changes in the prices of individual food products.
Eurostat, the Statistical Office of the European Union, has released provisional results on Euro area inflation for September 2024 (available on Eurostat’s website under News > Euro indicators).
Consumer price index results are also available on Dashboard Germany (www.dashboard-deutschland.de) (only in German). In this data portal, the Federal Statistical Office brings together up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, the labour market, construction, housing, energy and Ukraine. The portal also contains the Economic Pulse Monitor tool (Pulsmesser Wirtschaft) (only in German) for real-time economic monitoring.
Important information regarding the GENESIS-Online database:
Our database's new user interface will leave the beta phase and go online in the second half of October 2024. The new interface will offer faster data retrieval and intuitive table search and customisation options. There will also be changes to the structure of the machine-readable flat file (CSV) format and the data output format for table downloads. For further details and other important information on the release, please see the info page of the new GENESIS-Online database.
