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Harmonised competitiveness indicators based on consumer price indices¹⁾: Germany

(period averages; index 1999 Q1=100)

2004	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Notes: For the euro area, the real effective exchange rate of the euro vis-à-vis 40 trading partners is displayed. For euro area countries, the table shows the harmonised competitiveness indicators calculated vis-à-vis these same trading partners plus the other euro area countries. A positive change points to a decrease in price competitiveness. For further information please refer to the explanatory note.
1. Period average	99.2	99.2	98.1	97.2	97.6	97.5	97.7	97.7	97.6	98.1	98.7	99.4
2. Percentage change versus previous period	0.7	-0.1	-1.1	-0.9	0.4	-0.1	0.2	0.0	-0.1	0.5	0.6	0.8
3. Percentage change versus previous year	4.7	3.7	2.4	1.6	0.3	-0.3	0.7	1.4	1.6	1.0	1.6	0.9
4. Percentage change since December 1998	-2.1	-2.2	-3.2	-4.1	-3.7	-3.8	-3.7	-3.6	-3.7	-3.2	-2.6	-1.9