The inflation rate in September 2024 has fallen again. It showed an increase of 1.6% in the month compared to the same month last year. In the previous month of August 2023 the value was +1.9%, in July it was +2.3%. According to the Federal Statistical Office, the inflation rate was last even lower than in September over three years ago. Compared to the previous month of August 2024, consumer prices remained stable (0.0%).
Ruth Brand, President of the Federal Statistical Office, says: “In particular, the renewed declines in energy prices dampened the inflation rate more strongly in September 2024 than in the previous months. In contrast, the continued above-average price increases for services had an inflationary effect.”
Core inflation, which excludes food and energy, was +2.7% in September. Meanwhile, prices for goods fell by 0.3%, while prices for services increased by 3.8%
