In March 2024 the inflation rate was only 2.2 percent. This is the lowest value since May 2021.
Falling energy and food prices are leading to the lowest inflation rate in almost three years. The corona pandemic and the Ukraine war were just two aspects that caused inflation to continue to rise. If you ignore food and energy prices, the so-called core inflation was 3.3 percent in March 2024. The extreme example is olive oil, where a price increase of 54.1 percent can be observed. The opposite pole to this are the costs for combined tickets for train or bus. Thanks to the Germany ticket, which has been valid since May 2023, these fell by 23.3% compared to the previous year. In contrast, prices for services rose by 3.7 percent. Insurance – 11 percent –, restaurant services – 6.9 percent – and social institution services – 7.8 percent – became significantly more expensive. It is the first year-on-year improvement since February 2015. Customers also benefit from buying sunflower oil and rapeseed oil - minus 21.7%.