How has Germany's inflation rate been recently evolving?

Germany's inflation rate has shown a decline over the past few months. According to official data from the Federal Office of Statistics (Destatis), the inflation rate in July was 6.2%, slightly lower than the previous month's 6.4%. This continues the year's decreasing trend in inflation.

What role do rising food prices play in Germany's inflation?

Despite the overall decline in inflation, food prices remain a significant driver of increased costs. The cost of food is notably higher compared to the previous year, straining consumer budgets and contributing to a faster rise in the cost of living.

Which specific food categories have experienced notable price increases?

Several food categories have witnessed considerable price hikes over the past year. Notable examples include: Sugar, jam, honey, and confectionery: +18.9% Vegetables: +15.7% Fish, fish products, and seafood: +14.1% Bread and cereal items: +16.6% Edible fats and oils, which have become 12.9% cheaper due to improved supply chains post the Ukraine war

How have energy prices contributed to inflation in Germany?

Energy prices, particularly for items like petrol and oil, have been significant contributors to the overall price increases. Supply shortages caused by the epidemic and Russia's invasion of Ukraine have led to higher costs for businesses and commodities, driving up energy prices.