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Germany's inflation rate holds steady at 2.3% in February 2025

The inflation rate in Germany remained at +2.3% in February 2025, unchanged from January, according to the Federal Statistical Office (Destatis). Consumer prices increased 0.4% compared to the previous month.

Destatis stated, 'Above-average increases in service prices, in particular, continued to drive up inflation. By contrast, the development of energy prices had a downward effect.'

Energy prices continue to fall
Energy product prices fell 1.6% year-on-year, with electricity down 3.0%, firewood and solid fuels decreasing 5.0%, and heating oil dropping 6.9%. However, natural gas rose 2.0%, while district heating increased 9.7%.

Retail and goods prices see moderate increases
The prices of goods increased 0.9% year-on-year. While non-durable consumer goods rose by 1.4%, the prices of durable consumer goods fell slightly (-0.1%).

Service sector sees above-average price growth
Service prices saw an above-average increase of 3.8% year-on-year. Transport costs rose significantly, with combined passenger transport services up 11.4% and insurance services increasing by 9.4%. Net rents, which play a key role in inflation, rose 2.1%, slightly below the overall inflation rate.

Core inflation remains above overall rate
Excluding energy, the inflation rate stood at 2.7%, aligning with core inflation, which also excludes food. Destatis noted, 'Both rates have exceeded overall inflation for over a year, demonstrating above-average price increases in other key product groups.'

Monthly inflation trends
Compared to January 2025, consumer prices increased 0.4% in February. Housing and utilities recorded a modest rise of 0.2%.


Table: Destatis.

More information:
Destatis
www.destatis.de

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