Last November 2023 the inflation rate in Germany is expected to be +3,2 % be, which was the lowest level since June 2021 (+2,4 %) represents. The inflation rate is measured by the change in the consumer price index (VPI) compared to the same month last year. According to the results available so far from the Federal Statistical Office (You are ready) is to be expected, that consumer prices compared to October 2023 around expected 0,4 % will sink.
The forecast core inflation, which reflects the inflation rate without taking food and energy into account, is expected to +3,8 % be. In November 2023 The fall in energy prices in particular had an impact 4,5 % compared to the same month last year, had a dampening effect on the inflation rate. This effect resulted from the base effect due to the very high energy price level in the previous year. Additionally showed up, that food prices in November 2023 with +5,5 % compared to the same month last year, did not increase as significantly as in previous months. The final results for November 2023 will be on 8. December 2023 published.
At the same time, prices for longer terms have fallen significantly again. You can find this and further information in our Research area.