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Inflation rate continues to fall: food and energy are cheaper, confectionery is more expensive
Inflation in Germany continues to fall - food and energy are cheaper. Discover which products are cheaper and what exceptions there are. Take the chance now to find out more!
Inflation rate continues to fall: food and energy are cheaper, confectionery is more expensive
Inflation in Germany is showing a downward trend, as prices for food and energy in particular are falling. In March, consumer prices rose by a total of 2.2 percent compared to the previous year. Cheaper vegetables and dairy products in particular led to a 0.7 percent decline in food prices compared to the previous year. Nevertheless, prices for fish and confectionery rose against the trend.
In the energy sector, prices fell by 2.7 percent year-on-year in March. Household energy became cheaper by 4.6 percent, while district heating rose by almost 21 percent. These price reductions helped to dampen the overall trend in inflation. Core inflation, excluding energy and food, was 3.3 percent in March.
Despite the downward trend in inflation, economists are not giving the all-clear. Rising oil prices on the world market due to tensions in the Middle East and the increase in the VAT rate on gas and district heating from 7 to 19 percent will further burden consumers. In addition, wage increases through collective bargaining could lead to further increases in the price of services. Given these factors, the inflation situation remains critical.