Press release No. 333 of 31 August 2020
Consumer price index, August 2020
0.0% on the same month a year earlier (provisional)
-0.1% on the previous month (provisional)
Harmonised index of consumer prices, August 2020
-0.1% on the same month a year earlier (provisional)
-0.2% on the previous month (provisional)
WIESBADEN– The inflation rate in Germany, measured as the year-on-year change in the consumer price index, is expected to be 0.0% in August 2020. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to decline by 0.1% on July 2020. Among others, the inflation rate has been influenced by the value added tax reduction effective as of 1 July 2020. This must be taken into account regarding the year-on-year rates of change in July and August 2020 in the table below.
| Overall index / subindex | Weight | May 2020 | June 2020 | July 2020 | August 2020 1 |
|---|---|---|---|---|---|
| per thousand | in percent | ||||
| 1: Provisional figure. 2: Household energy and motor fuels. 3: Net rents and other rents. | |||||
| Overall index | 1,000 | 0.6 | 0.9 | -0.1 | 0.0 |
| Goods | 468.16 | -0.4 | 0.2 | -1.4 | -1.3 |
| including: | |||||
| Energy 2 | 103.83 | -8.5 | -6.2 | -6.7 | -6.3 |
| Food | 84.87 | 4.5 | 4.4 | 1.2 | 0.7 |
| Services | 531.84 | 1.3 | 1.4 | 1.2 | 1.0 |
| including: | |||||
| Rents 3 | 207.26 | 1.4 | 1.4 | 1.4 | 1.4 |
More information on the reduction of value added tax is provided in our press release of 15 June 2020.
The final results for August 2020 will be released on 11 September 2020.
Eurostat, the Statistical Office of the European Union, will publish its flash estimate of Euro area annual inflation for August 2020, 1 September 2020.
Results of the inflation rate are available on the “Corona statistics“ webpage of the Federal Statistical Office together with other indicators which can be used to assess the economic consequences of the coronavirus pandemic.
