Germany Inflation April 2022

Germany

Germany: Harmonized inflation comes in at highest level since our records began

May 12, 2022

Harmonized consumer prices rose 0.69% in April over the previous month, below the 2.47% rise recorded in March. April's result marked the weakest reading since December 2021. Looking at the details of the release, prices for recreation and culture rose at a faster rate in April. In contrast, prices for housing rose at a slower rate. Meanwhile, food prices expanded. Moreover, prices for clothing and footwear grew at a more subdued pace.

Harmonized inflation came in at 7.8% in April, which was up from March’s 7.6%. April's figure was the highest inflation rate since our current records began. Annual average harmonized inflation rose to 4.8% in April (March: 4.3%).

FocusEconomics panelist expect harmonized inflation to average 3.9% in 2022 and 2.0% in 2023.


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Germany Inflation April 2022

Note: Annual and monthly variation of harmonized index of consumer prices in %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.


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