March 7, 2023

Consumer price index in Germany, February 2023:
+8.7% on the same month a year earlier (provisional)
+0.8% on the previous month (provisional)

Harmonised index of consumer prices, February 2023:
+9.3% on the same month a year earlier (provisional)
+1.0% on the previous month (provisional)

The inflation rate in Germany is expected to be +8.7% in February 2023. The inflation rate is measured as the change in the consumer price index (CPI) compared with the same month a year earlier. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to increase by 0.8% on January 2023.

Energy and food prices, in particular, have increased considerably since the war started in Ukraine and have had a substantial impact on the inflation rate. In February 2023, food prices showed above-average growth (+21.8%) compared with the same month of the previous year. Energy prices, in contrast, eased slightly. To limit the increase of energy product prices, measures of the Federal Government’s third relief package have been adopted which are reflected in the consumer price index. Despite the relief measures, energy prices were 19.1% higher in February 2023 than in February 2022.

Inflation Calculator informs about personal rate of inflation:

Consumers can use the Personal Inflation Calculator (only in german) of the Federal Statistical Office to adapt their monthly consumption expenditure on individual product groups according to their own consumption patterns and to calculate their personal inflation rate.

Source: DESTATIS
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