“Two measures of the relief package had a slight downward effect on the overall inflation rate especially from June to August 2022: the 9-euro ticket and the fuel discount,” said Destatis president Georg Thiel in a release.
Consumer prices in August were up by 0.3 per cent over the July figure.
The lower mineral-oil tax (fuel discount) also reduced motor fuel prices as of June 2022 in Germany. These measures considerably reduced the year-on-year increase in transport prices, which was 3.7 per cent in August, 5.4 per cent in July and 8.3 per cent in June.
The increase in the prices of all energy products due to the situation of war and crisis is still a major factor determining the inflation rate, Destatis said.
Additional factors are again delivery bottlenecks due to interruptions in supply chains and marked price increases at upstream stages in the economic process.
Energy product prices in August this year were 35.6 per cent higher than in the same month a year earlier.
The prices of goods (total) were up by 14.7 per cent in August on the same month of the previous year.
ALCHEMPro News Desk (DS)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
