Record rises in petrol and diesel prices pushed German annual inflation to its highest level in almost three years in September.
Consumer prices rose 3.3 per cent year on year, the highest since December 2023, according to final figures from the Federal Statistical Office (Destatis). Inflation had been 2.3 per cent in June, 2.8 per cent in July and 2.9 per cent in August. It remains above the European Central Bank’s medium-term target of 2 per cent. Prices rose 0.6 per cent month on month.
Destatis president Ruth Brand said inflation had passed the 3 per cent mark for the first time this year, driven once again by energy prices.
She said: “Behind the rise in inflation are once again developments in energy prices. The price increases were felt especially in petroleum products at filling stations and in heating oil.”
Energy prices overall were up 14.9 per cent on a year earlier, the biggest rise since February 2023. Oil prices temporarily rose above $100 a barrel because of the war in the Middle East, feeding through to the pumps.
Fuel prices climbed 37.1 per cent year on year, heating oil jumped 74.9 per cent and solid fuels rose 15.6 per cent.
By contrast, electricity prices fell 5.5 per cent, natural gas 2.8 per cent and district heating 1 per cent, helped by federal government measures introduced at the start of the year and the abolition of the gas storage levy.
Food prices rose 0.4 per cent. Eggs were up 15.2 per cent, fresh vegetables 12 per cent and fish products 4.5 per cent, while butter fell 29.5 per cent, fresh fruit 4.9 per cent and dairy products 5.5 per cent.
Services prices rose 2.7 per cent. Core inflation, which excludes food and energy, was 2.4 per cent.
