Press Inflation rate of +8.6% expected in December 2022

Annual average inflation rate expected to stand at 7.9% in 2022

Press release No. 003 of 3 January 2023

Consumer price index, December 2022:
+8.6% on the same month a year earlier (provisional)
-0.8% on the previous month (provisional)
+7.9% on an annual average in 2022 compared with 2021 (provisional)

Harmonised index of consumer prices, December 2022:
+9.6% on the same month a year earlier (provisional)
-1.2% on the previous month (provisional)
+8.7% on an annual average in 2022 compared with 2021 (provisional)

WIESBADEN – The inflation rate in Germany is expected to be +8.6% in December 2022. The inflation rate is measured as the change in the consumer price index (CPI) compared with the same month a year earlier. Due to the December immediate assistance, among other things, the inflation rate was significantly lower than in the previous months. It stood at +10.0% in November 2022 and at +10.4% in October. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to decline by 0.8% compared with November 2022. The annual average inflation rate is expected to stand at +7.9% in 2022.

Year-on-year change in the consumer price index
regarding selected product groups
Overall index / subindexWeightSeptember
2022
October
2022
November
2022
December
2022 1
per thousand percent
1: Provisional figure.
2: Household energy and motor fuels.
3: Net rents and other rents.
Overall index1,00010.010.410.08.6
Goods468.1617.217.817.113.9
including:
Energy 2103.8343.943.038.724.4
Food84.8718.720.321.120.7
Services531.843.64.03.63.9
including:
Rents 3207.261.71.81.91.9

Energy and food prices, in particular, have increased considerably since the war started in Ukraine and have had a substantial impact on the inflation rate. However, the federal one-off payment in December 2022 to cover the monthly instalment for gas and heat had a downward effect on prices. The exact effect of the December immediate assistance cannot be quantified yet on the basis of the provisional results. The Federal Statistical Office will publish further information together with the final results on 17 January 2023.

An overview of the relief measures with a direct impact on consumer prices can be found on the Federal Statistical Office's homepage under Consumer prices.

Note: consumer price statistics revision

The consumer price index for Germany is revised and a new base year is introduced at regular intervals. With effect from reference month January 2023, the index will be rebased from 2015 to base year 2020. In this context, the results from January 2020 onwards will be recalculated. At the same time, the results using base year 2015 will be revised.

31 January 2023: Provisional result for January 2023
22 February 2023: Final result for January 2023 and all results recalculated from January 2020 onwards using the new 2020 base year

Inflation Calculator informs about 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 note:

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 includes also household expenditure on owner-occupied housing, games of chance and broadcasting fees. In addition, the HICP product weights are updated annually. 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.
Explanatory notes (only in german) and a methodological paper which discusses this issue are provided on the website of the Federal Statistical Office.

More information:

The final results for December 2022 will be released on 17 January 2023.

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