Germany: energy inflation rate by commodity 2024

The inflation rates of energy commodity prices in Germany began to significantly increase in 2021, a rise that continued throughout 2022. The gas inflation rate stood at 23 percent in December 2023 after it had peaked in November 2022 at 82 percent. These increases in inflation were driven by tighter fossil fuel supplies since many economies began recovering from the coronavirus pandemic, and further worsened by supply fears following the Russia-Ukraine war. However, in 2024, the HCIP has decreased compared to the previous year.

Harmonized index of consumer prices (HICP) energy inflation rate in Germany from January 2019 to May 2024, by commodity

Characteristic	Energy	Gas	Liquid fuels	Electricity
May '24	-1.2%	-1.9%	-9.5%	-7.4%
Apr '24	-1.3%	-0.3%	-11%	-7.8%
Mar '24	-2.9%	-1%	-14.8%	-8%
Feb '24	-2.6%	1.9%	-13.9%	-7.9%
Jan '24	-3%	4.6%	-16.3%	-6.8%
Dec '23	3.1%	23%	-15.2%	0.1%
Nov '23	-7.3%	-2.8%	-18.6%	1.5%
Oct '23	-6%	2.9%	-22.8%	4.5%
Sep '23	-0.8%	11.6%	-18.5%	10.7%
Aug '23	5.3%	18.4%	-16%	15.5%
Jul '23	3.9%	24%	-15.3%	13.9%
Jun '23	4%	32.3%	-12.4%	10.7%
May '23	5%	35.8%	-3.4%	12.5%
Apr '23	9.4%	40.2%	3.5%	15.2%
Mar '23	6.1%	43.7%	-7.2%	17%
Feb '23	21.6%	47.8%	35.7%	22.7%
Jan '23	25.1%	48.9%	46%	24.3%
Dec'22	25.1%	39.8%	53.2%	27%
Nov'22	40.1%	82%	57%	27.1%
Oct'22	43.5%	78%	73.7%	26%
Sep'22	44.2%	67.7%	90%	20.9%
Aug '22	35.8%	59.1%	89.6%	16.6%
Jul '22	35.6%	52.4%	82%	18.1%
Jun '22	37.4%	42.9%	83.2%	22.1%
May '22	37.5%	38.7%	72.5%	21.5%
Apr '22	34.5%	33.3%	72.2%	19.3%
Mar '22	37.6%	28.4%	95.3%	17.6%
Feb '22	22.4%	22.9%	38.9%	12.9%
Jan '22	20.6%	19.9%	36.3%	11%
Dec '21	18.1%	8.9%	40.3%	3.7%
Nov '21	21.6%	7.4%	57%	3.1%
Oct '21	18.1%	5.8%	53.1%	2.5%
Sep '21	13.6%	4.2%	35.1%	2%
Aug '21	12.1%	3.7%	24.6%	1.7%
Jul '21	11.2%	3.4%	22%	1.6%
Jun '21	9%	1.8%	15.4%	0%
May '21	9.5%	1.9%	10.4%	-0.1%
Apr '21	7.6%	1.9%	2.8%	-0.2%
Mar '21	4.5%	1.9%	2%	0.2%
Feb '21	0.2%	1.6%	-7.5%	0.3%
Jan '21	-2.2%	1.5%	-14.9%	1.3%
Dec '20	-6%	-0.7%	-21.5%	1.4%
Nov '20	-7.4%	-0.5%	-27.6%	1.7%
Oct '20	-6.6%	0%	-28.3%	1.9%
Sep '20	-6.6%	0.4%	-28.8%	1.9%
Aug '20	-6%	0.7%	-23.9%	2%
Jul '20	-6.4%	0.8%	-22.5%	2.1%
Jun '20	-5.9%	2.1%	-19%	4.1%
May '20	-8.2%	2.1%	-20.9%	4.2%
Apr '20	-5.6%	2.2%	-16%	4.4%
Mar '20	-0.8%	2.7%	-12.8%	4.5%
Feb '20	2.2%	3%	-6.7%	4.5%
Jan '20	3.3%	3.1%	-1.2%	3.9%
Dec '19	0.1%	4.2%	-3.9%	4.1%
Nov '19	-4%	3.7%	-14.6%	3.9%
Oct '19	-2.2%	3.3%	-9%	3.8%
Sep '19	-1.2%	3%	-4.2%	3.9%
Aug '19	0.7%	2.8%	1%	3.8%
Jul '19	2.3%	2.6%	4.7%	3.8%
Jun '19	2.4%	2.5%	3.3%	3.4%
May '19	4.1%	1.9%	8.2%	3.3%
Apr '19	4.9%	1.8%	12.5%	3.1%
Mar '19	4.6%	1.3%	15.6%	2.9%
Feb '19	3.2%	1%	15.7%	2.9%
Jan '19	2.6%	0.5%	10.8%	2.5%

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Release date

June 2024

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Region

Germany

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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Energy price inflation rate in Germany 2019-2024, by commodity