The year 2023 is drawing to a close and the New Year's Eve party is just around the corner. Traditionally, champagne, New Year's Eve carp, ingredients for a fondue or raclette meal and party snacks are on the shopping list for this occasion. Party decorations and fireworks are also still part of a successful New Year's Eve party for many households. Looking back over the past year, one issue that particularly preoccupied consumers was rising prices. Our figure of the month for the turn of the year 2023/2024 also deals with price trends. It looks at how the prices of goods needed for a typical New Year's Eve party have developed over the past year in comparison to general consumer prices.

So did the "ingredients" for a good New Year's Eve party tend to become more expensive than average last year?
 

The average price development of all goods and services purchased by private households in Germany for consumption purposes is expressed by the consumer price index. This has risen continuously and significantly in recent years. In 2023, the average increase up to November was also 6.2%.

However, almost all prices for "New Year's Eve party goods" considered in this figure of the month rose more sharply - in some cases significantly. With an average increase of 24%, the prices of potato crisps and potato sticks as party snacks rose the most, closely followed by cheese (cheese and quark +22.2%), an essential ingredient for the raclette. The price increase for New Year's Eve carp is likely to be less pronounced, even though a price increase of 11.1% for the product group "plaice, trout or carp" seems anything but low. The price increase for meat and meat products (+8.9%) is also unlikely to make fondue any cheaper than last year. The price trend for the goods analysed reflects the overall trend for food in 2023. These became 13.2% more expensive on average.

Alcoholic beverages became only slightly less expensive with an average price increase of 9.6%. Sparkling wine, Prosecco and champagne, which are essential for New Year's Eve parties, were slightly lower with an average price increase of 8.1%.

On the other hand, there is good news for revellers who value elaborate decorations and the traditional New Year's Eve firecrackers. The "decoration for parties" product group, which also includes fireworks, hardly increased in price at all compared to last year, rising by around 0.3%.

Other figures can be found here.