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BackHigh energy prices drove inflation in Thuringia to 3.4 percent in September
High energy prices drove inflation in Thuringia to 3.4 percent in September
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Die Zeit47 minutes agoBusiness1 min readGermanyView original

High energy prices drove inflation in Thuringia to 3.4 percent in September

The State Statistical Office reports a slight increase compared to the previous month - heating oil, fuel and food are particularly hard hit by price increases

Quick Look

  • Inflation in Thuringia rose to 3.4 percent in September.
  • The main drivers remain high energy prices and more expensive food as a result of heat and drought in agriculture.

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Why It Matters

Geopolitical crises keep crude oil, gas and transportation costs consistently high, which fuels inflation.

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High energy prices have further fueled inflation in Thuringia. The annual inflation rate in the Free State was 3.4 percent in September, as the State Statistical Office in Erfurt announced. In August the value was 3.3 percent. Energy products have been steadily increasing in price for months and are therefore the biggest price driver. As a result of geopolitical crises, crude oil and gas prices, as well as the costs for alternative transport routes and options, remain constantly high or continue to climb.

According to the information, heating oil and fuel became 40.7 percent more expensive year-on-year. Without these two items, the inflation rate in September would only be 2.0 percent. For heating oil including operating costs, consumers had to shell out 53.3 percent more than a year earlier. Compared to the previous month alone, heating oil rose in price by an average of 14.8 percent. Fuel prices also sometimes climbed to dizzying heights: fuel prices rose by 37.4 percent compared to the same month last year.

Heat and drought make vegetables more expensive

Consumers also had to accept significant surcharges on food such as fruit and vegetables, it was said. In addition to high energy costs, the background is also the stress in agriculture caused by heat and drought. Fresh vegetables, including potatoes, rose in price by an average of 11.6 percent within a year. Consumers had to dig deep into their pockets, especially for tomatoes (+31.6 percent) and cucumbers (+19.8 percent).

Compared to the previous month of August, consumer prices in Thuringia rose by 0.4 percent. Prices for household energy and fuel rose by 2.5 percent month-on-month. Customers also had to pay more for clothing.

Open Questions

  • How will energy prices develop in the coming months?
  • What relief measures are politicians planning?

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This article was originally published by Die Zeit.

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