Germany Inflation


Inflation stabilizes in August

In August, consumer prices recorded a flat reading over the previous month, according to preliminary data released by the Federal Statistics Office (Destatis) on 28 August. The reading, which met market expectations, came in below the 0.3% rise registered in July.

Annual headline inflation remained stable in August at July’s 0.9%. Annual average inflation was also unchanged at July’s 1.2%, which marked a 44-month low.

Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) mirrored July’s result and came in at 0.8% in August. Annual average HICP inflation remained at the previous month’s 1.1% in August.

The Central Bank expects inflation to average 1.1% in 2014, before increasing to 1.5% in 2015. FocusEconomics panelists expect inflation to average 1.1% in 2014, which is unchanged from the previous month’s forecast. For 2015, panelists expect inflation to increase to 1.7%.

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Germany Inflation Chart

Germany Inflation August 2014

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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