Press release No. 409 of 30 October 2024
Consumer price index, October 2024:
+2.0% on the same month a year earlier (provisional)
+0.4% on the previous month (provisional)
Harmonised index of consumer prices, October 2024:
+2.4% on the same month a year earlier (provisional)
+0.4% on the previous month (provisional)
WIESBADEN – The inflation rate in Germany is expected to be 2.0% in October 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 the consumer prices will increase by 0.4% on September 2024. The inflation rate excluding food and energy, often referred to as core inflation, is expected to be 2.9%.
| Overall index / subindex | Weight | July 2024 | August 2024 | September 2024 | October 20241 |
|---|---|---|---|---|---|
| per thousand | percent | ||||
| 1: Provisional figures. 2: Core inflation. 3: Household energy and motor fuels. | |||||
| Overall index | 1,000 | 2.3 | 1.9 | 1.6 | 2.0 |
| Overall index excluding food and energy2 | 821.41 | 2.9 | 2.8 | 2.7 | 2.9 |
| Services | 503.36 | 3.9 | 3.9 | 3.8 | 4.0 |
| Goods | 496.64 | 0.9 | 0.0 | -0.3 | 0.4 |
| including: | |||||
| Energy3 | 73.90 | -1.7 | -5.1 | -7.6 | -5.5 |
| Food | 104.69 | 1.3 | 1.5 | 1.6 | 2.3 |
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:
In the Euro area, the harmonised index of consumer prices (HICP) is used for the purposes of monetary policy. The consumer price index (CPI) and the HICP also differ in terms of coverage, methodology and weighting. This explains the differences between the CPI and the HICP for Germany. 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. Explanatory notes on this issue are provided on the website of the Federal Statistical Office, a methodological paper is also available.
More information:
The final results for October 2024 will be released on 12 November 2024.
Important information regarding the GENESIS-Online database:
Our database's new user interface will leave the beta phase and be available as the main interface version from 5 November 2024 onwards. The new interface will offer faster data retrieval and intuitive table search and customisation options. There will also be changes to the structure of the machine-readable flat file (CSV) format and the data output format for table downloads. For further details and other important information on the release, please see the info page of the new GENESIS-Online database.
