Consumer prices virtually unchanged in August

According to provisional figures by the Federal Statistical Office consumer prices will probably increase by 1.9% in August 2007 as compared to August last year which is the same increase already withnesses in July. As compared to July 2007 prices slightly fell by 0.1% in August.

Since March 2007 prices have developed in a stable manner rising by 1.9% each month (+1.8% in June). The increases were mainly due to rising prices for foodstuffs. These increased by between 1.4 and 3.7% in several Federal Laender in August this year as compared to August last year. The prices for alcoholic drinks and tabacco also increased significantly by between 3.5% and 4.0% as compared to 2006.

Even though in some Federal Laender there are strong price increases for dairy products, there are also falling prices for seasonal foodstuffs which fell between -1.1% and -6.4% therefore compensating for above mentioned increases. The same effect was created by falling prices for fuel prices of which decreased by between -2.5% and -3.9% as compared to 2006.
Prices for travel packages and holiday flats also fell for seasonal reasons by -2.1% and -1.2% respectively as compared to July 2007. However, these prices were still 1.1% and 2.7% above last year´s price levels.

The so-called European consumer price index for Germany will probably rise by 2.0% in August 2007 as compared to August last year (July 2007: +2.0% as compared to July 2006). As compared to July 2007 this index fell by 0.1%. Final results for August 2007 will be available from September 14th 2007. GERMAN