Consumer prices in Germany increased 1 percent year-on-year in January of 2021, the first rise in seven months and above market forecasts of 0.7 percent, preliminary estimates showed. The temporary reduction in the VAT rate aimed to revive the economy during the coronavirus crisis ended on December 31st. Higher CO2 prices and an increase in minimum wages from January also accounted for the CPI rise. On a monthly basis, inflation increased to 0.8 percent from 0.5 percent, above forecasts of 0.4 percent. The harmonized index went up 1.6 percent year-on-year and 1.4 percent month-over-month. source: Federal Statistical Office

Inflation Rate in Germany averaged 2.34 percent from 1950 until 2021, reaching an all time high of 11.54 percent in October of 1951 and a record low of -7.62 percent in June of 1950. This page provides the latest reported value for - Germany Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Germany is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Germany to stand at 1.30 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.60 percent in 2022, according to our econometric models.

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Germany Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 -0.30 11.54 -7.62 1950 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-12-11 07:00 AM Inflation Rate YoY Final Nov -0.3% -0.2% -0.3% -0.3%
2021-01-06 01:00 PM Inflation Rate YoY Prel Dec -0.3% -0.3% -0.3% -0.3%
2021-01-19 07:00 AM Inflation Rate YoY Final Dec -0.3% -0.3% -0.3% -0.3%
2021-01-28 01:00 PM Inflation Rate YoY Prel Jan 1% -0.3% 0.7% 0.4%
2021-02-10 07:00 AM Inflation Rate YoY Final Jan -0.3% 1% 1%
2021-03-01 01:00 PM Inflation Rate YoY Prel Feb
2021-03-12 07:00 AM Inflation Rate YoY Final Feb
2021-03-30 12:00 PM Inflation Rate YoY Prel Mar


News Stream
Germany Consumer Prices Rise for 1st Time in 7 Months
Consumer prices in Germany increased 1 percent year-on-year in January of 2021, the first rise in seven months and above market forecasts of 0.7 percent, preliminary estimates showed. The temporary reduction in the VAT rate aimed to revive the economy during the coronavirus crisis ended on December 31st. Higher CO2 prices and an increase in minimum wages from January also accounted for the CPI rise. On a monthly basis, inflation increased to 0.8 percent from 0.5 percent, above forecasts of 0.4 percent. The harmonized index went up 1.6 percent year-on-year and 1.4 percent month-over-month.
2021-01-28
German Consumer Prices Drop 0.3% in December
Consumer prices in Germany dropped 0.3 percent from a year earlier in December 2020, the same as in the previous month, which was the largest decline since January 2015. It was the fifth month of deflation in the last 12 months due to the temporary value added tax reduction in the second half of the year. Prices of goods went down 1.8 percent, mainly due to a 6 percent decline in energy cost on the back of lower prices for heating oil and motor fuels. Also, food inflation eased to 0.5 percent in December from 1.4 percent in November. At the same time, services inflation was steady at 1.1 percent, with rent prices increasing again by 1.2 percent. Considering 2020 full year, inflation rate averaged 0.5 percent, the lowest since 2009.
2021-01-19
German Consumer Prices Fall for 4th Month
Consumer prices in Germany are expected to drop 0.3 percent from a year earlier in December 2020, the same as in the previous month, which was the largest decline since January 2015, a preliminary estimate showed. Goods prices are seen falling 1.8 percent, the same as in November, led by a sharp decline in energy prices (-6.0 percent vs -7.7 percent) and a slowdown in food inflation (0.5 percent vs 1.4 percent). At the same time, services inflation will likely remain flat at 1.1 percent, with rent prices increasing again by 1.3 percent. On a monthly basis, consumer prices are expected to rise 0.5 percent in December, missing forecasts of 0.6 percent.
2021-01-06
Germany Deflation Deepens in November
Consumer prices in Germany fell 0.3% year-on-year in November of 2020, the most since January of 2015 and in line with preliminary figures. It was the fourth month of deflation so far this year due to the temporary VAT reduction from July 1st 2020 and until the end of the year as part of a stimulus package to help the economy recover from the coronavirus shock. Prices of goods went down 1.8%, mainly due to energy (-7.7%), consumer durables such as telephones (-6.7%) and consumer electronics (-4.5%). Excluding energy products, the inflation rate would have been 0.6%. Upward pressure came from the cost of food (1.4%) namely meat and fruit, and services (1.1%) mainly heating expenses (1.4%). Compared with October, consumer prices went down 0.8%, the biggest fall in a year.
2020-12-11

Germany Inflation Rate
In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent) and Food & non-alcoholic beverages (10 percent). The index also includes Miscellaneous goods & services (7 percent), Furniture, lighting equipment, appliances & other household equipment (5 percent), Restaurant & accommodation services (5 percent), Health (5 percent) and Clothing & footwear (5 percent). The remaining 7 percent of the index is composed by Alcoholic beverages & tobacco, Communication and Education.