5 Consumer prices, producer prices and import prices

Prices
Consumer price indices measure the average change in the prices of all goods and services households purchase for consumption purposes. These include, for example, food products, other consumer goods, housing rents, electricity, fuels and services. The change in consumer prices is used to determine inflation, defined as a sustained high increase in the price level. The year-on-year percentage change in the Harmonised Index of Consumer Prices, or HICP, (ie the inflation rate) is the statistical base used to assess whether prices are stable in the Euro area.

The producer price index for industrial products (domestic sales) measures the average change in the prices of raw materials and industrial products manufactured and sold in Germany. Examples of these include petroleum products, metals, basic chemicals and food products. The producers of these goods belong to the manufacturing sector, the energy and water supply sector and the mining sector.

Import prices measure the average change in the prices of all goods that are traded between foreign countries and Germany. In keeping with their importance for imports, the prices of, for example, petroleum, refined petroleum products, other raw materials and grain as well as motor vehicles and motor vehicle parts, machinery and chemical products are aggregated.