- Inflation in Hesse remains at 1.8 per cent
Consumer prices in Hesse also rose by 1.8 percent in July 2024 compared to the previous year. This inflation rate was already reached in June 2024, as reported by the State Statistical Office in Wiesbaden based on preliminary results. The development in energy products continues to have a dampening effect on prices, while the increase in services is inflationary.
Compared to the previous month, prices rose by 0.3 percent in July 2024. Clothing items and accommodations were cheaper, while package tours and services of social institutions were more expensive. Energy was overall 0.3 percent cheaper in July 2024 than in June 2024: heating, electricity, and natural gas cost less, while fuels cost more.
In the year-on-year comparison, energy was significantly cheaper in July 2024 by 4.7 percent. Natural gas was 15.6 percent cheaper. Firewood and wood pellets were 14.1 percent and electricity 11.1 percent cheaper. However, there was an increase of 42.0 percent for district heating and 8.0 percent for heating oil. On average, fuels were 1.2 percent below the price level of July 2023.
Food prices rose by 1.0 percent compared to July 2023, less than the overall consumer prices. Significantly more expensive in the year-on-year comparison were, among others, edible fats and oils with 13.5 percent - including butter with 20.8 percent -, mineral water, soft drinks, and juices with 8.0 percent, as well as sugar, jam, honey, and other sweets with an increase of 5.4 percent. Dairy products were 0.9 percent cheaper.
The change in the consumer price index without food and energy compared to the previous year - the so-called core inflation - remained at 2.8 percent for the fourth month in a row in July 2024.
The Consumer is likely to notice a decrease in energy costs, such as heating, electricity, and natural gas, when comparing July 2024 to June 2024. However, there has been an increase in the price of district heating and heating oil, affecting the overall energy expenses for the Consumer.
