Press release No. 466 of 8 December 2023
Consumer price index, November 2023
+3.2% on the same month a year earlier (provisional result confirmed)
-0.4% on the previous month (provisional result confirmed)
Harmonised index of consumer prices, November 2023
+2.3% on the same month a year earlier (provisional result confirmed)
-0.7% on the previous month (provisional result confirmed)
WIESBADEN − The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +3.2% in November 2023. In October 2023, the inflation rate was +3.8%. The last time inflation was lower than in November 2023 was in June 2021, when it stood at +2.4%. “The rate of inflation has slowed for the fifth consecutive month”, says Ruth Brand, President of the Federal Statistical Office. She adds: “In October and November 2023, many energy products, in particular, cost less than they did a year earlier. The price situation here has clearly eased. The year-on-year rate of increase in food prices has also continued to slow, but is still markedly higher than overall inflation.” The Federal Statistical Office (Destatis) also reports that consumer prices in November 2023 decreased by 0.4% on October 2023.
Energy product prices fell by 4.5% compared with November 2022
Energy product prices in November 2023 were 4.5% lower than in the same month a year earlier and therefore had a dampening effect on the inflation rate, as was also the case in October 2023 (-3.2%). The price decreases since October 2023 have primarily been due to the high level of energy prices in 2022, a year marked by war and crisis (only in German) (base effect). Motor fuel prices dropped by 6.9% from November 2022 to November 2023. Household energy fell by 2.7% over the same period. Consumers had to pay considerably less for heating oil (-19.4%) and natural gas (-18.3%), for instance, than in the same month a year earlier. By contrast, electricity was still more expensive (+1.6%) in November 2023 than a year earlier.
Food prices remain driver of inflation: +5.5% from November 2022
Food prices were up 5.5% in November 2023 compared with the same month a year earlier. The surge in food prices therefore slowed further (October 2023: +6.1%, September 2023: +7.5%; August 2023: +9.0%). A lower year-on-year increase in food prices than in November 2023 was last recorded in February 2022 (+5.4% on February 2021). However, in November 2023 price increases in many food groups were still markedly higher than overall inflation. In particular, consumers had to pay much more for fruit (+12.0%) and for sugar, jam, honey and other confectionery (+11.9%). Bread and cereals (+9.4%), vegetables (+7.3%) and fish, fish products and seafood (+7.1%) were also significantly more expensive. By contrast, edible fats and oils cost 11.5% less than a year earlier. Here, however, the prices of butter (-24.8%) and sunflower oil, rapeseed oil and the like (-17.3%) declined substantially, while olive oil prices (+43.5%) rose sharply.
Inflation rate excluding food and energy at +3.8%
Excluding energy prices, the inflation rate stood at +4.0% in November 2023. When food and energy prices are excluded, the inflation rate was +3.8%. These rates also demonstrate that inflation remains high in other product groups and exceeds overall inflation. However, the year-on-year change in the consumer price index excluding food and energy, which is often referred to as core inflation, has slowed gradually and, in November 2023, dropped below the four percent mark for the first time since August 2022.
Goods prices up 3.0% on November 2022
Goods prices (total) increased by 3.0% in the period from November 2022 to November 2023, with the prices of non-durable consumer goods rising by 2.9%. Above-average price increases were observed for food (+5.5%) and also for non-alcoholic beverages (+8.5%), alcoholic beverages and tobacco (+8.6%). The prices of durable consumer goods were 3.1% higher compared with November 2022.
Service prices up 3.4% year on year
In November 2023, the prices of services (total) increased by 3.4% compared with the same month a year earlier. The rate of price increase therefore slowed somewhat (October 2023: +3.9%). The Germany ticket, which has been available since May 2023, had a dampening effect on the increase in service prices also in November 2023. A particular decline was recorded for combined tickets for rail, bus and the like (-22.7% on November 2022). Net rents exclusive of heating expenses also had a dampening effect (+2.0%) and continued to be a significant contributor to the development of service prices. The prices of a number of other services increased above average, however, and therefore drove inflation up, for instance the prices for the maintenance and repair of dwellings (+10.5%), services of social facilities (+9.8%), overnight stays (+6.5%) and catering services in restaurants, cafés and the like (+5.8%).
Prices of package holidays and energy down substantially month on month
Compared with October 2023, the consumer price index declined by 0.4% in November 2023. A major reason for the decrease were seasonal reductions of package holiday prices (-11.4%). The prices of energy (total) also decreased markedly in November 2023 compared with the previous month (-2.1%). As regards household energy, lower prices were recorded in particular for natural gas (-3.0%) and heating oil (-2.9%). Consumers paid less for motor fuels, too (-2.6%). By contrast, food prices (total) rose by 0.6% month on month, with higher increases especially for vegetables (+4.1%).
Methodological notes:
The “Germany ticket” has been taken into account in the consumer price index since the start of May 2023. It resulted in price reductions in public regional and local passenger transport in May 2023. The Germany ticket had a downward effect on the development of prices especially in the services product group also in November 2023.In addition, the current results are impacted by other measures of the Federal Government's third relief package, which are aimed in particular at containing the increase in energy prices. An overview explaining the different relief measures and their impact on the consumer price index is available on the website of the Federal Statistical Office.
The consumer price index (CPI) and the harmonised index of consumer prices (HICP) differ in coverage and methodology. In contrast to the HICP, the CPI also includes household expenditure on owner-occupied housing, games of chance and broadcasting fees. In addition, the HICP product weights are updated annually. As the weight of housing is much smaller in the HICP basket, price increases in other product groups have a larger impact on the HICP than on the CPI. These differences (coverage, methodology and weighting) explain the differences between the CPI and the HICP for Germany. Explanatory notes and a methodological paper which discusses this issue are provided on the website of the Federal Statistical Office.
Inflation Calculator for personal rate of inflation:
Consumers can use the Personal Inflation Calculator of the Federal Statistical Office to adapt their monthly consumption expenditure on individual product groups according to their own consumption patterns and to calculate their personal inflation rate. In addition, the Price Kaleidoscope gives an overview of the price trend and the weights of various products.
| Overall index / subindex | Weighting | Index 2020=100 | Change on the same period a year earlier | Change on the preceding month |
|---|---|---|---|---|
| in per mill | in per cent | |||
| Overall index | 1,000.00 | 117.3 | 3.2 | -0.4 |
| Food and non-alcoholic-beverages | 119.04 | 131.2 | 5.8 | 0.6 |
| Food | 104.69 | 132.1 | 5.5 | 0.6 |
| Meat and meat products | 22.16 | 128.8 | 3.3 | -0.2 |
| Fruit | 11.62 | 118.5 | 12.0 | 1.8 |
| Vegetables | 13.72 | 130.0 | 7.3 | 4.1 |
| Alcoholic beverages and tobacco | 35.26 | 119.3 | 8.6 | 0.3 |
| Clothing and footwear | 42.25 | 109.4 | 2.4 | -0.1 |
| Housing, water, electricity, gas and other fuels | 259.25 | 114.5 | 1.2 | -0.3 |
| Actual net rent exclusive of heating expenses | 68.30 | 106.1 | 2.0 | 0.1 |
| Imputed net rent exclusive of heating expenses | 104.13 | 105.3 | 1.8 | 0.0 |
| Household energy | 43.44 | 151.5 | -2.7 | -1.7 |
| Electricity | 24.50 | 131.8 | 1.6 | -1.6 |
| Gas 1 | 6.07 | 185.7 | -18.3 | -3.0 |
| Heating oil 1 | 1.70 | 218.4 | -19.4 | -2.9 |
| Furniture, lighting equipment, appliances and other household equipment | 67.78 | 118.5 | 3.8 | 0.0 |
| Health | 55.49 | 105.4 | 2.7 | 0.0 |
| Transport | 138.22 | 123.4 | 0.3 | -1.5 |
| Motor fuels | 30.46 | 145.1 | -6.9 | -2.6 |
| Supergrade petrol | 23.19 | 141.2 | -5.1 | -2.4 |
| Diesel fuel | 6.92 | 156.8 | -12.0 | -3.2 |
| Communication | 23.35 | 100.0 | 0.9 | -0.1 |
| Recreation and culture | 104.23 | 113.7 | 3.8 | -1.7 |
| Package holidays | 13.22 | 117.0 | 5.3 | -11.4 |
| Education | 9.06 | 110.6 | 3.8 | 0.1 |
| Restaurant and accommodation services | 47.20 | 121.0 | 6.0 | 0.0 |
| Miscellaneous goods and services | 98.87 | 114.5 | 5.5 | 0.0 |
| Overall index, excluding food and energy 2 | 821.41 | 112.6 | 3.8 | -0.4 |
More information:
Detailed results can be found in the tables on the consumer price index (61111-0004) and (61111-0006) and on the harmonised index of consumer prices (61121-0002) and (61121-0006) in the GENESIS-Online database. Special items shown in Tables (61111-0006) and (61121-0006) contain CPI and HICP results which are used to measure "core inflation". The table "Verbraucherpreisindex – Preisentwicklung für Nahrungsmittel" (only in German)" provides information on changes in the prices of individual food products.
Consumer price index results are also available on Dashboard Germany (www.dashboard-deutschland.de) (only in German). This data portal of the Federal Statistical Office combines up-to-date indicators from official statistics producers and other data providers on the topics of the economy, finance, health and mobility. The portal also contains the Economic Pulse Monitor tool (Pulsmesser Wirtschaft) (only in German) for real-time economic monitoring.
Russia’s attack on Ukraine and the related sanctions are having an impact on many parts of the economy and society. Relevant data and information are provided on a special webpage (www.destatis.de/ukraine) (only in German).
