Hingegen stiegen die Kraftstoffpreise um 1,5%. The remaining 7 percent of the index is composed by Alcoholic beverages & tobacco, Communication and Education. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. The harmonised index of consumer prices rose by 0.8 percent from a year earlier and by 0.7 percent from the previous month. Consumer prices in Germany are seen decreasing 0.1 percent from a year earlier in July 2020, the first month of deflation since April 2016 and compared to market expectations of a 0.2 percent rise. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. For more information on the methods used and on the impact of the corona crisis on price collection please refer to our Example: The “Clothing and footwear” subindex includes all goods and services with a standard tax rate of 16% (before 1 July 2020: 19%). The inflation rate in Germany between 1956 and 2020 was 396.03%, which translates into a … Price collection for purposes of consumer price statistics has again been faced with new challenges due to the temporary reduction in value added tax rates from 1 July 2020, and especially owing to the different handling of this reduction in the individual shops.
1.74 %.
Goods prices should fall 1.4 percent (vs 0.2 percent in June) led by a decline in energy cost (-6.7 percent vs -6.2 percent) and a slowdown in food inflation (1.2 percent vs 4.4 percent). 1950-2020 Data | 2021-2022 Forecast | Calendar | Historical This means that the inflation rate declined in July 2020 (June 2020: +0.9%). Reference
Without the tax cut, the inflation rate would have been higher by a maximum of 1.6 percentage points.The prices of goods (total) decreased by 1.4% from July 2019 to July 2020. After deducting the VAT cut, the decline was only 2.1% (-4,6% plus 2.5 percentage points). Also, services inflation eased to 1.2 percent from 1.4 percent, led by growing rent prices (1.4 percent). On a monthly basis, consumer prices rose 0.6 percent in May, also above consensus of a 0.3 percent gain.In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent) and Food & non-alcoholic beverages (10 percent). inflation (yearly basis) inflation.
The prices of energy products (total) were down 0.7%, with heating oil prices declining most markedly (-4.4%). 215 of 15 June 2020. At -6.7%, the fall of The year-on-year decrease in energy product prices continued to have a downward effect on the The prices of services (total) rose by an above-average 1.2% in July 2020 compared with the same month a year earlier. Services inflation should pick up to 1.4 percent from 1.3 percent, led by growing rent prices, while goods prices are seen rebounding 0.2 percent after May's 0.4 percent fall.
Services inflation accelerated to 1.4 percent … The annual inflation rate in German was confirmed at 0.9 percent in June 2020, up from 0.6 percent in the previous month. Germany inflation rate for 2019 was 1.45%, a 0.29% decline from 2018.
Assuming that the VAT cut was fully and instantly passed on to consumers, the inflation rate would, arithmetically, be 1.6 percentage points lower in July 2020.
This was the first month of deflation since April 2016, as goods prices dropped (-1.4 percent vs 0.2 percent in June), due to a faster fall in energy prices (-6.7 percent vs -6.2 percent) while food prices rose at a softer pace (1.2 percent vs 4.4 percent). The index also includes Miscellaneous goods & services (7 percent), Furniture, lighting equipment, appliances & other household equipment (5 percent), Restaurant & accommodation services (5 percent), Health (5 percent) and Clothing & footwear (5 percent). A major contributing factor was the increase in net rents exclusive of heating expenses (+1.4%) because households spend a large part of their consumption expenditure on this item which, in addition, has been unaffected by the value added tax reduction. At the same time, services prices are set to increase at a slower pace (1.2 percent vs 1.4 percent). The Previous information on the impact of the value added tax cut on consumer prices was provided in press release no. In May 2020, the consumer prices in Germany increased by 0.6 percent compared to the same month of the previous year, based on preliminary figures. The value added tax cut was probably one of the causes.
The Federal Statistical Office (Destatis) also reports that consumer prices decreased by 0.5% compared with June 2020. To what extent the lower tax rates were passed on to consumers is very difficult to determine since the price development is influenced by many factors. The good quality of price collection has been assured in close coordination with the statistical offices of the Länder.
Compared with June 2020, the overall consumer price index fell by 0.5% in July 2020. Despite the reduction in value added tax, however, higher prices had to be paid for hairdresser services and other services for personal care (+4.9%) and for visits to restaurants, cafés and the like (+1.6%). Read more about our Privacy Policy and visit the following link: Food prices (total) declined considerably by 2.7%, and an additional seasonal decrease in prices was observed for fruit (-3.2%) and vegetables (-6.1%).
Price reductions at the cash registers (tills) have also been taken into account.Only some prices could not yet be collected in the reference month of July 2020 due to the present corona crisis.
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