Press release No. 290 of 30 July 2024
Consumer price index, July 2024:
+2.3% on the same month a year earlier (provisional)
+0.3% on the previous month (provisional)
Harmonised index of consumer prices, July 2024:
+2.6% on the same month a year earlier (provisional)
+0.5% on the previous month (provisional)
WIESBADEN – The inflation rate in Germany is expected to be +2.3% in July 2024. It is measured as the change in the consumer price index (CPI) compared with the same month a year earlier. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to increase by 0.3% on June 2024. The inflation rate excluding food and energy, often referred to as core inflation, is expected to be +2.9%.
| Overall index / subindex | Weight | April 2024 | May 2024 | June 2024 | July 20241 |
|---|---|---|---|---|---|
| per thousand | percent | ||||
| 1: Provisional figures. 2: Core inflation. 3: Household energy and motor fuels. | |||||
| Overall index | 1,000 | 2.2 | 2.4 | 2.2 | 2.3 |
| Overall index excluding food and energy2 | 821.41 | 3.0 | 3.0 | 2.9 | 2.9 |
| Services | 503.36 | 3.4 | 3.9 | 3.9 | 3.9 |
| Goods | 496.64 | 1.2 | 1.0 | 0.8 | 0.9 |
| including: | |||||
| Energy3 | 73.90 | -1.2 | -1.1 | -2.1 | -1.7 |
| Food | 104.69 | 0.5 | 0.6 | 1.1 | 1.3 |
Inflation Calculator for personal rate of inflation:
Consumers can use the Personal Inflation Calculator (only in German) 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.
Methodological notes:
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 and past data are generally not revised (only in German). 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.
More information:
The final results for July 2024 will be released on 9 August 2024.
