Press release No. 255 of 29 June 2023
Consumer price index, June 2023
+6.4% on the same month a year earlier (provisional)
+0.3% on the previous month (provisional)
Harmonised index of consumer prices, June 2023:
+6.8% on the same month a year earlier (provisional)
+0.4% on the previous month (provisional)
WIESBADEN – The inflation rate in Germany is expected to be +6.4% in June 2023. It is measured as the change in the consumer price index (CPI) compared with the same month a year earlier. In May 2023, the inflation rate was +6.1%. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to rise by 0.3% on May 2023. The inflation rate excluding food and energy, often referred to as core inflation, is expected to be 5.8% (May 2023: +5.4%).
| Overall index / subindex | Weight | March 2023 | April 2023 | May 2023 | June 20231 |
|---|---|---|---|---|---|
| per thousand | percent | ||||
| 1: Provisional figures. 2: Core inflation. 3: Household energy and motor fuels. | |||||
| Overall index | 1,000 | 7.4 | 7.2 | 6.1 | 6.4 |
| Overall index excluding food and energy2 | 821.41 | 5.8 | 5.8 | 5.4 | 5.8 |
| Services | 503.36 | 4.8 | 4.7 | 4.5 | 5.3 |
| Goods | 496.64 | 9.8 | 9.3 | 7.7 | 7.3 |
| including: | |||||
| Energy3 | 73.90 | 3.5 | 6.8 | 2.6 | 3.0 |
| Food | 104.69 | 22.3 | 17.2 | 14.9 | 13.7 |
In June 2023, food prices continued to show above-average growth (+13.7%) compared with the same month of the previous year. At +3.0%, the increase in energy prices in June 2023 was, however, lower than the year-on-year change rate of the overall index. This is due to a base effect originating from the high price level in June 2022 after energy prices had started to soar in March 2022 following the Russian attack on Ukraine. Measures of the Federal Government’s third relief package, which are reflected in the consumer price index, also contributed to the slowing of the energy price increase. By contrast, the development of service prices (+5.3% compared with the previous month) had the effect of driving up the inflation rate. There is a base effect due to the availability of the 9-euro ticket from June through August 2022.
Inflation Calculator for 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.
Methodological notes:
With effect from reference month January 2023, the consumer price index has been rebased from 2015 to base year 2020. A detailed background document (only in German) providing information on the revision is available on the website of the Federal Statistical Office.
The consumer price index (CPI) and the harmonised index of consumer prices (HICP) differ in coverage and methodology. In contrast to the HICP, the CPI includes also household expenditure on owner-occupied housing, games of chance and broadcasting fees. In addition, the HICP product weights are updated annually. As the weight of housing is much smaller in the HICP basket, price increases in other product groups have a larger impact on the HICP than on the CPI.
More information:
The final results for June 2023 will be released on 11 July 2023.
