Global Biz

German CPI rises 0.4% in 2009, lowest since 1990

(Xinhua)
Updated: 2010-01-14 19:25

BERLIN: Germany's consumer price index (CPI) slightly jumped 0.4 percent in 2009, the lowest since German unification, while the rate accelerated itself in December, climbing 0.8 percent, the fastest in eight months, the Federal Statistical Office (Destatis) reported Thursday.

For 2009, the average annual inflation rate was 0.4 percent, the lowest level since German unification in 1990. Over the last decade, the similarly low rate only appeared in 1999, which was 0.6 percent, the Destatis said in a report. In 2007 and 2008, the rate of price increase amounted to 2.3 percent and 2.6 percent.

The low rate of CPI in 2009 was mainly due to the price slump in mineral oil products and foods, the Destatis said. Prices of liquid fuel plunged 30.7 percent last year, while motor fuel prices dropped 11.0 percent, comparing with 2008.

For mineral oil products as a whole, the prices were down 15.8 percent in 2009.

German consumers may also well notice the decreasing food prices, which fell 1.3 percent last year, including price of fresh full-cream dipping 17.3 percent, cream down 18.0 percent.

However, some products were more expensive than before. Electricity prices climbed 6.2 percent, alcoholic beverages and tobacco up 2.7 percent. Net house rents exclusive of heating expenses were up 1.1 percent on a year earlier.

In December 2009, the upward price trend began to accelerate, as global economy showed signs of recovery. The year-on-year inflation rate in December jumped 0.9 percent from November's 0.4 percent.

Surging energy product prices weighed on the trends, the Destatis said. Mineral oil product prices markedly rose 11.1 percent year-on-year, while motor fuel prices surged 12.9 percent. Moreover, electricity prices recorded a further 5.8-percent rise in December 2009.