German inflation hits 5.9% in August

August 30, 2023 (MLN): The consumer price index for the German state of North Rhine-Westphalia rose by 5.9% YoY in August, the latest data issued by the Information and Technology North Rhine-Westphalia as the State Statistical Office showed today.

While on a sequential basis, the consumer price index rose by 0.5% compared to the previous month.

Similarly, core inflation, which excludes food and energy price developments, rose by 5.3% YoY in the month.

Food prices in particular rose 9.1%; including vegetables by +13.0% and bread and cereal products by +12.5%). Gas, including operating costs, was offered 11.9% more expensive.

Among other things, they were cheaper than in the same month last year. Edible fats/oils (−13.0%, including butter −28.7%) and heating oil, including operating costs (−12.7%).

The so-called base effect also had an impact on the inflation rate in August 2023: last year, the 9-euro ticket dampened price development in the months of June to August.

The above-average price increase for combined passenger transport in August 2023 (+131.6% compared to the same month last year) results from this base effect.

In August 2023, compared to July 2023, e.g. the prices for diesel fuel (+8.0%) and clothing items (+3.5%). Carrots (−13.1%), grapes (−10.8%) and orange juice or similar fruit juices (−7.1%) were offered at lower prices. (IT.NRW)

To note, the base year for this is 2020.

This press release on the development of consumer prices in North Rhine-Westphalia is based on preliminary results.

The final results for the reference month of August 2023 are expected to be published on September 05, 2023.

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