Press release No. 431 of 29 October 2020
Consumer price index, October 2020:
-0.2% on the same month a year earlier (provisional)
+0.1% on the previous month (provisional)
Harmonised index of consumer prices, October 2020:
-0.5% on the same month a year earlier (provisional)
0.0% 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 -0.2% in October 2020. Among others, the inflation rate has been influenced by the value added tax reduction effective as of 1 July 2020. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to increase by 0.1% on September 2020.
| Overall index / subindex | Weight | July 2020 | August 2020 | September 2020 | October 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 | -0.1 | 0.0 | -0.2 | -0.2 |
| Goods | 468.16 | -1.4 | -1.3 | -1.7 | -1.5 |
| including: | |||||
| Energy 2 | 103.83 | -6.7 | -6.3 | -7.1 | -6.8 |
| Food | 84.87 | 1.2 | 0.7 | 0.6 | 1.4 |
| Services | 531.84 | 1.2 | 1.0 | 1.0 | 1.0 |
| including: | |||||
| Rents 3 | 207.26 | 1.4 | 1.4 | 1.4 | 1.3 |
More information on the reduction of value added tax is provided in press release no. 215 on the “Impact of the value added tax cut on consumer prices” of 15 June 2020.
The final results for October 2020 will be released on 12 November 2020.
On 30 October 2020, the Statistical Office of the European Union (Eurostat) will publish its flash estimate of the euro area inflation rate for October 2020.
The consumer price index results are also 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.
