German year-on-year inflation in September reached 10%, its highest level in 32 years

The Federal Statistical Office indicated that the main reasons for the high index correspond to the huge price increases of energy products and food

The year-on-year inflation rate in Germany shot up to 10% in September, the highest level in reunified Germany, mainly due to high energy prices, but also food prices, the Federal Statistical Office (Destatis) reported today. , thus confirming the preliminary data released on September 29.

Thus, the consumer price index (CPI), which has remained above 7% for seven months, increased drastically compared to the 7.9% year-on-year registered in August.

The president of Destatis, Georg Thiel, pointed out that “with 10%, the inflation rate reached a new maximum in the unified Germany” and specified that “the main reasons for the high inflation continue to be the enormous price increases of the products energetic”.

“However, we are seeing more and more price increases in many other products, especially food,” he said.

He added that the end of the subsidized public transport ticket at 9 euros per month and the fuel cut increased the upward pressure on prices in September.

He indicated that these temporary measures of the government’s second aid package “have had a dampening effect on general inflation between June and August”, which Destatis estimated at approximately one percentage point.

Thus, the year-on-year increase in transport prices was 14% in September, compared to 3.7% in August, 5.4% in July and 8.3% in June, while in May, before the entry into force of the relief measures, had been 16.3%.

The end of the 9-euro subsidized ticket and the fuel discount is also reflected in the inflation rate compared to August, with a significant increase of 1.9%.

Energy products rose by 43.9% year-on-year in September, after 35.6% in August.

The price of domestic energy increased particularly sharply, by 51.8%.

Thus, the price of light heating oil more than doubled, up to 108.4%, that of natural gas rose by 95.1%, and that of electricity, by 21%.

Fuel prices rose by 30.5% year-on-year in September, compared to 16.5% in August, 23% in July and 33.2% in June, while in May, before the reduction in fuels, prices had risen by 41%.

The end of the reduced tax on hydrocarbons is, however, only one of the reasons for the sharp increase in fuel prices.

Thus, the increase in the price of energy products is mainly due to the sharp increases in international purchase prices.

In addition to the increase in the prices of all energy products as a result of the war and the crisis situation, the supply problems and the notable price increases in the previous economic phases influence the inflation rate.

As a consequence, other goods and services also became more expensive, especially again many food products, which with a year-on-year rise in prices of 18.7%, exceeded general inflation.

In general, the increase in prices has strengthened successively since the beginning of the year.

The increase in prices was observed in all food groups: fats and oils rose considerably -49%-, dairy products and eggs -29.1%-, meat and meat products -19.5%- and bread and cereals -18.5%-.

Without taking into account the impact of energy, the inflation rate would have stood at 6% in September, and without counting energy and food, at 4.6%.

The prices of goods as a whole increased by 17.2% year-on-year, while those of services only rose by 3.6%.

The harmonized CPI for Germany, which is calculated using community criteria, rose by 10.9% in interannual terms in September and by 2.2% compared to the previous month.