Enlarge image
Ticket machine at Munich Central Station: Inflation slowed down somewhat in June
Photo: Lennart Preiss / dpa
Good news for the wallet: according to the Federal Statistical Office, inflation, which had previously risen sharply, was somewhat dampened last month.
Consumer prices rose by just 7.6 percent in June, while the inflation rate was 7.9 percent in May.
The Wiesbaden authority thus confirmed an initial estimate from the end of June.
more on the subject
Currency devaluation: Who can end inflation - and at what price An analysis by Tim Bartz and Christian Reiermann
The increase in consumer prices was apparently dampened by the tank discount introduced at the beginning of the month and the 9-euro ticket.
The federal government is trying to relieve people, among other things, with these measures limited to three months.
Experts warn that once the subsidies have expired, their effect on inflation will also diminish.
The rate of inflation could soar upwards in September.
This is probably one of the reasons why the federal government is considering continuing the 9-euro ticket in the form of a “climate ticket”.
Groceries continue to get more expensive
However, there are already signs of a further increase in the price of food and consumer goods: food price inflation accelerated in June to 12.7 percent compared to the same month last year.
Prices rose by 11.1 percent in May and by 8.6 percent in April.
According to the Federal Statistical Office, the effects of the tank discount cannot be precisely quantified because of the fluctuating crude oil prices.
The price of crude oil had fallen significantly on Tuesday, but the downward trend initially did not continue on Wednesday.
Overall, energy cost 38.0 percent more in June than a year earlier.
Fuel became more expensive by 33.2 percent, so the upward trend in prices weakened somewhat.
In May, fuel prices had risen by 41.0 percent.
Light heating oil cost more than twice as much compared to the previous year (plus 108.5 percent).
Natural gas (plus 60.7 percent) and electricity (plus 22.0 percent) also became significantly more expensive.
In order to combat inflation, the European Central Bank (ECB) is planning to raise interest rates next week for the first time since 2011.
jlk/dpa
