Press release No. 003 of 7 January 2025
Consumer price index, December 2024:
+2.6% on the same month a year earlier (provisional)
+0.4% on the previous month (provisional)
+2.2% on an annual average in 2024 compared with 2023 (provisional)
Harmonised index of consumer prices, December 2024:
+2.8% on the same month a year earlier (provisional)
+0.7% on the previous month (provisional)
+2.5% on an annual average in 2024 compared with 2023 (provisional)
WIESBADEN – The inflation rate in Germany is expected to be +2.6% in December 2024. The inflation rate 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 increased by 0.4% on November 2024. The annual average inflation rate is expected to stand at +2.2% in 2024. The inflation rate excluding food and energy, often referred to as core inflation, is expected to be +3.1% in December 2024.
| Overall index / subindex | Weight | September 2024 | October 2024 | November 2024 | December 20241 |
|---|---|---|---|---|---|
| per thousand | percent | ||||
| 1: Provisional figures. 2: Core inflation. 3: Household energy and motor fuels. | |||||
| Overall index | 1,000 | 1.6 | 2.0 | 2.2 | 2.6 |
| Overall index excluding food and energy2 | 821,41 | 2.7 | 2.9 | 3.0 | 3.1 |
| Services | 503.36 | 3.8 | 4.0 | 4.0 | 4.1 |
| Goods | 496.64 | -0.3 | 0.4 | 0.7 | 1.1 |
| including: | |||||
| Energy3 | 73.90 | -7.6 | -5.5 | -3.7 | -1.7 |
| Food | 104.69 | 1.6 | 2.3 | 1.8 | 2.0 |
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 preparation for the future base year 2025, the survey of consumer prices is performed using a new survey catalogue from December 2024 onwards. This change of catalogue is regular practice and takes account of new classifications of goods and services. The classification-related changes to the structure of goods affect the results for consumer price statistics, as the comparability of the data over time is limited, particularly the comparison of the data in December 2024 - the month the changeover took place - with the previous month. The change of survey catalogue is expected to only have a limited impact on the overall result, however. The effects will be explained in greater detail in the press release on the final result of consumer price statistics for December 2024, which will be published on 16 January 2025.
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, and a methodological paper is also available.
More information:
The final results for December 2024 will be released on 16 January 2025.
