Energy is significantly more expensive than last year – Image: lovelyday12|Shutterstock.com
Consumer prices for household energy, heating oil, and fuels have risen significantly in recent months. This is shown in the graphic based on the latest figures from the Federal Statistical Office. Household energy prices, including electricity, gas, and other fuels, increased by 21 percent within a year. Prices for heating oil and fuels rose even more sharply, by 30 percent, during the same period. In contrast, the overall consumer price index excluding energy prices rose by only 3.2 percent.
The German Institute for Economic Research (DIW) anticipates a decline in economic output in Germany and even sharper price increases as a consequence of the war in Ukraine. "I expect the German economy to slip back into recession," DIW President Marcel Fratzscher told the "Neue Osnabrücker Zeitung." As in the fourth quarter of last year, the German economy is likely to contract again in the first and second quarters of 2022.
Price trends essentially reflect the change in the amount of money required to purchase goods and services. Data on price trends in Germany is published by the Federal Statistical Office. The most important indicator of consumer price trends in Germany is the inflation rate. This rate represents the devaluation of money, characterized by a steady increase in the price level of final products (consumer goods and capital goods). Inflation is calculated based on the price development of a defined basket of goods and services for everyday needs. From a consumer perspective, price trends for energy and raw materials are particularly important, as these significantly influence the prices of consumer goods and food.
The graphic shows the consumer price indices for energy in Germany
The graphic shows the consumer price indices for energy in Germany – Image: Statista
English Version: Energy significantly more expensive than last year
Consumer prices for household energy, heating oil and fuels have risen significantly in recent months. This is shown in the chart based on the latest figures from the Federal Statistical Office. Prices for household energy, for example, rose by 21 percent within a year. This includes prices for electricity, gas and other fuels. Prices for heating oil and fuels rose by as much as 30 percent in the same period. By contrast, the overall index of consumer prices excluding energy rose by only 3.2 percent.
The German Institute for Economic Research (DIW) expects economic output in Germany to fall and prices to rise even more sharply as a result of the war in Ukraine. “I expect the German economy to slide back into recession now,” DIW President Marcel Fratzscher told the Neue Osnabrücker Zeitung newspaper. As in the fourth quarter of last year, the German economy is likely to contract in the first and second quarters of 2022.
Price development basically shows the change in the amount that has to be invested to purchase goods and services. Data on price developments in Germany are published by the Federal Statistical Office. The most important indicator for the development of consumer prices is the inflation rate in Germany. This refers to the depreciation of money, which is characterized by a constant increase in the price level for end products (consumer goods, capital goods). The calculation of inflation is based on the price development of a defined basket of goods consisting of different products and services for daily use. Particularly important from a consumer perspective is the price development of energy and raw materials, which in turn has a major impact on the prices of consumer goods and food.
Write to me
Xpert.Digital – Konrad Wolfenstein
Xpert.Digital is a hub for industry focusing on digitalization, mechanical engineering, logistics/intralogistics and photovoltaics.
With our 360° Business Development solution, we support renowned companies from new business to after-sales.
Market intelligence, smarketing, marketing automation, content development, PR, mail campaigns, personalized social media and lead nurturing are part of our digital tools.
You can find more information at: www.xpert.digital – www.xpert.solar – www.xpert.plus
Keep in touch
