Inflation in Germany slowed down somewhat in June. Consumer prices rose by 7.6 percent compared to the same month last year, as the Federal Statistical Office announced in a first estimate on Wednesday in Wiesbaden. In May, the annual inflation rate was still 7.9 percent.
According to preliminary data, the price of energy (up 38.0 percent) and food (up 12.7 percent) rose particularly sharply in June compared to the same month last year.
Compared to the previous month of May, tickets for local transport and, in some cases, fuel were cheaper, according to the statistical offices of individual federal states. According to the Federal Office, the preliminary results do not yet show how the 9-euro ticket and the fuel discount have had an exact effect.
According to preliminary figures, consumer prices rose by a total of 0.1 percent from May to June this year.
The federal government is trying to relieve people, among other things, with a limited tank discount and a 9-euro ticket for local public transport. On July 4th, Chancellor Olaf Scholz (SPD) wants to discuss how price developments can be brought under control in a so-called concerted action together with top representatives of employees and employers.
The tax relief on fuel, which applies from the beginning of June to the end of August, is 35.2 cents for premium petrol and 16.7 cents for diesel, including VAT. Not all of it has reached consumers, however. According to the ADAC, both fuels are comparatively too expensive despite recent declines.
Inflation rates at the current level have never existed in reunified Germany. In the old federal states there were similarly high values in the winter of 1973/1974. At that time, mineral oil prices had risen sharply as a result of the first oil crisis. Higher inflation rates reduce the purchasing power of consumers because they can then afford less for one euro.
In view of the high inflation, many people in Germany – whether employed or looking for a job – want to limit their grocery shopping and spending on clothing and shoes. This emerges from a survey by the Hans Böckler Foundation, for which a good 6,200 people were interviewed at the end of April and beginning of May. Across all income groups, 39 percent of those surveyed want to buy less food and luxury items in the future. When it comes to clothing and shoes, more than every second person (53 percent) wants to limit themselves.