Inflation in Germany is stubbornly above the 7 percent mark. 9-euro tickets and fuel discounts dampened the rise in prices in August for the third month in a row.
Higher inflation rates reduce the purchasing power of consumers because they can afford less for one euro. Above all, price jumps in energy as a result of the Ukraine war and rising food prices have been heating up inflation in Europe’s largest economy for some time.
In August, energy cost a total of 35.6 percent more than a year earlier. Household energy rose particularly sharply by 46.4%: the price of light heating oil more than doubled within a year to 111.5%, and the price of natural gas rose by 83.8%. Electricity prices increased by 16.6%. Fuel inflation in August 2022 was 16.5%.
Food prices increased by 16.6 percent in one year. The statisticians explained that the upward trend in prices has increased for the sixth month in a row.
Edible fats and oils (44.5%) as well as dairy products and eggs (26.8%) became significantly more expensive. Consumer prices also increased noticeably for meat and meat products (18.6%) and for bread and cereal products (17.1%).
These are the price-driving products in the supermarket
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The Federal Statistical Office has put a personal inflation calculator online in which consumers can enter their individual expenses for rent, travel expenses and groceries, for example. This allows you to calculate how much your personal inflation rate differs from the official one.
Because the inflation rate is an average value that does not necessarily do justice to individual consumers and their shopping behavior. There are also psychological factors: According to statisticians, there are prices that consumers perceive particularly strongly. These are mainly goods that you buy regularly, such as groceries. The “perceived” inflation can therefore deviate from the official rate. (with DPA content)
