Price shock for consumers - heating oil is now 51.9 percent more expensive

Created: 02/11/2022 10:59 am

By: Svenja Wallocha

Energy costs have risen rapidly within a year.

This also ensures rising inflation in Germany.

Kassel – Consumer prices have risen sharply in Germany.

Above all, looking at the price display at the gas station is currently shocking many drivers.

But the cost of electricity also increased significantly*, which in some cases has an enormous impact on companies and customers.

Energy costs are also keeping inflation high.

According to the Federal Statistical Office, the inflation rate in January 2022 was 4.9 percent compared to the same month last year.

Goods and services cost an average of 4.9 percent more in January 2022 than a year ago.

The statisticians thus confirmed their first estimate from the end of January.

High energy prices: inflation in Germany rose sharply in January 2022

Inflation weakened slightly - in December it had reached 5.3 percent, the highest level in almost 30 years*.

"But it remains at a high level," said the President of the Federal Office, Georg Thiel.

Compared with December 2021, consumer prices rose by 0.4 percent in January 2022.

Consumer prices in Germany rose sharply again in January – heating oil in particular rose by 51.9 percent.

(symbol photo) © Fabian Sommer/dpa

According to the Federal Office, delivery bottlenecks and price increases for primary products as well as energy prices continue to have a major impact on inflation: these rose by 20.5 percent within a year.

That means consumers had to pay 20.5 percent more for energy than a year earlier.

Without the influence of energy, the inflation rate would have been 3.2 percent.

Rising energy prices: Prices for heating oil increased by 51.9 percent

Above all, the prices for heating oil increased (51.9 percent).

But fuel prices, i.e. petrol, also rose* by 24.8 percent, natural gas by 32.2 percent and electricity by 11.1 percent.

However, the higher CO2 tax and higher network charges for electricity also had an impact.

You can also find interesting and helpful consumer news in our weekly HNA consumer newsletter*.

But not only energy became more expensive, but also food.

Here, prices recently rose by 5.0 percent.

This was particularly noticeable with fresh vegetables (up 8.3 percent) and dairy products and butter (up 6.3 percent).

The net cold rents, which are significant due to the large proportion of consumer spending by private households, rose by 1.4 percent and thus dampened overall inflation.

On the other hand, some service prices increased significantly, such as the maintenance and repair of apartments and houses (plus 9.4 percent) and vehicles (plus 4.9 percent).

Due to the enormous rise in energy prices, a one-off heating cost subsidy* was decided.

(svw with material from afp)