Consumer prices in July 2004 1,8% above the previous year
Meat and dairy products cheaper
As reported by the Federal Statistical Office, the consumer price index for Germany rose by 2004% in July 2003 compared to July 1,8. Compared to June 2004, the index increased by 0,3%. The estimate for July 2004 based on the results from six federal states was thus confirmed. In May and June 2004 the annual rate of change was +2,0% and +1,7% respectively.The price development of petroleum products in July had a noticeable impact on inflation: Without heating oil and motor fuels, the annual rate of change would have been +1,5%. Compared to July 2003, light heating oil increased in price by 17,2%, fuel prices increased by 8,2%. Crude oil also had a price-driving effect in a short-term comparison: motor fuels and light heating oil cost 1,8% and 4,7% more than in the previous month. Without including mineral oil products, the consumer price index would have increased by 2004% from June to July 0,2.