Thanks to the fuel discount and 9-euro ticket: Despite the sustained rise in energy and food prices, inflation in Germany lost some of its momentum in June. According to the Federal Statistical Office, consumer prices increased by 7.6 percent compared to the same month last year. The Wiesbaden authority thus confirmed an initial estimate on Wednesday. In May, the inflation rate was still 7.9 percent.
The increase in consumer prices in June was dampened by the fuel discount introduced at the beginning of the month and the 9-euro ticket. The federal government is trying to relieve people, among other things, with these measures limited to three months. Higher inflation rates reduce the purchasing power of consumers because they can afford less for one euro.
According to the Federal Office, the impact of the tank discount cannot be precisely quantified because of the fluctuating crude oil prices. Overall, energy cost 38.0 percent more in June than a year earlier. Fuel became more expensive by 33.2 percent, so the upward trend in prices weakened somewhat. In May, fuel prices had risen by 41.0 percent. Light heating oil cost more than twice as much as a year earlier (plus 108.5 percent). Natural gas (plus 60.7 percent) and electricity (plus 22.0 percent) also became significantly more expensive.
Food price inflation accelerated in June to 12.7 percent year-on-year. Prices rose by 11.1 percent in May and by 8.6 percent in April.
Compared to May, consumer prices increased by a total of 0.1 percent in June. Here, too, the authority confirmed an initial estimate.
Inflation rates at the current level have never existed in reunified Germany. In the old federal states there were similarly high values in the winter of 1973/1974. At that time, oil prices rose sharply as a result of the first oil crisis. (dpa)