In 2024, the consumer price index in Germany was indicator points. Compared with the previous year, the index rose by points, meaning consumer prices increased by percent (inflation rate).
What is the consumer price index?
The consumer price index for Germany measures the average price development of goods and services purchased by private households for consumption. The overall index shown here includes the divisions Food and nonalcoholic beverages (1), Alcoholic beverages and tobacco (2), Clothing and footwear (3), Housing rent, water, electricity, gas and other fuels (4), Furnishings and household equipment and routine household maintenance (5), Health care (6), Transport (7), Communication (8), Recreation, entertainment and culture (9), Education (10), Accommodation and food services (11), and Other goods and services (12).
Relationship between the consumer price index and inflation
The term inflation refers to the loss of value of money (a decline in the value of money) characterized by a sustained rise in the price level for final products (consumer goods, capital goods). The consumer price index reflects price developments for private consumption expenditures, and the rate of change of the index corresponds to the inflation rate (an increase in the index value; a decline in the consumer price index is referred to as deflation). The consumer price index is the key indicator for assessing the development of the value of money in Germany.