The temporary subsidized public transport ticket in Germany (“9-euro ticket”) reduced the services price index in June, July and August 2022. In February 2023, the effect of the 9 euro ticket fell out of the time window for calculating 3 months on 3 months inflation rates.
Of course, this scheme is just one of many temporary fiscal interventions that are influencing inflation dynamics across the euro area. In the December staff projections, fiscal interventions were assessed to lower the inflation rate in 2022 and 2023 but then to raise the inflation rate in 2024 and 2025 in line with the scheduled expiry of these measures. 12.