Germany Inflation July 2016


Inflation continues on modest upward trend in July

Consumer prices in July rose 0.3% over the previous month, according to preliminary data released by the Federal Statistics Office (Destatis) on 28 July. The result came in above June’s 0.1% reading.

Inflation continued to rise in July, inching up from June’s 0.3% to 0.4%. Meanwhile, annual average inflation was stable at June’s 0.2%.

Harmonized consumer prices in July rose 0.4% over the previous month, which exceeded June’s 0.1% increase. HICP inflation picked up from 0.2% in June to 0.4% in July. Meanwhile, average HICP inflation remained stable in July at the 0.1% reading tallied in June.

The government expects inflation to be 1.2% in 2016. FocusEconomics panelists expect inflation to average 0.4% in 2016, which is unchanged from the previous month’s forecast. For 2017, panelists expect inflation to increase to 1.5%.

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Germany Inflation Chart

Germany Inflation July 2016 0

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.

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