- Inflation rate in Rhineland-Palatinate unchanged in July
Falling energy prices have slightly eased inflation in Rhineland-Palatinate, but more expensive food is driving it up. Ultimately, the inflation rate in July remained unchanged at 2.6 percent, as reported by the Statistical Office of the State. In June 2024, the inflation rate was also plus 2.6 percent.
Energy prices, according to the statisticians, were 0.8 percent lower than the previous year's level. For example, there were price reductions of 3.1 percent for heating oil and 5.3 percent for electricity. Gas prices fell by 0.9 percent within a year.
However, food prices rose by 1.4 percent in July compared to July 2023, according to the state office. In particular, prices for edible fats and oils increased by 15.2 percent and butter by 21.7 percent. Chocolate products also became significantly more expensive. Prices for fish, fish products and seafood, as well as for vegetables, however, decreased (minus 1.1 percent and minus one percent).
Despite the decrease in energy prices, Ems-based businesses faced challenges due to the substantial increase in the cost of raw materials used in food production. Moreover, the high demand for Ems-produced chocolates resulted in their prices remaining relatively stable despite the general inflation trend.
