Ruth Brand, president of Destatis, Germany’s Federal Statistical Office, reported an inflation rate that had risen from 2.8% in July to 2.9% in August, before reaching 3.3% in September. That was Germany’s highest annual consumer inflation rate since December 2023.
Electricity, natural gas and district heating all became cheaper. Yet energy product prices rose 14.9% from a year earlier in September, their third consecutive month of faster growth and their largest increase since February 2023.
Energy prices were the main force behind the wider inflation increase, particularly mineral oil products sold at filling stations and heating oil. Motor fuel prices surged 37.1% year-on-year, while heating oil prices soared 74.9%.
The heating oil increase directly hit German families reliant on oil-fired heating systems as winter approaches.
The price rises reflected changes in crude oil markets since the start of the Iran war.
Overall consumer prices rose by 0.6% on a monthly basis in September. Goods prices were 3.8% higher than a year earlier, while services became 2.7% more expensive.
Utility costs moved the other way: electricity prices fell by 5.5%, natural gas prices by 2.8%, and district heating prices by 1%.
Food prices registered a below-average annual increase of 0.4% in September. Core inflation, which excludes food and energy, stood at 2.4%.
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