Germany Inflation August 2020


Germany: Harmonized consumer prices fall in August

September 11, 2020

Harmonized consumer prices dropped 0.19% over the last month in August, up from July’s 0.47% fall. August’s print reflected rising prices for clothing and footwear as well as softer declines in the prices for food and non-alcoholic beverages; alcoholic beverages and tobacco; and housing, water, electricity, gas and other fuels.

Meanwhile, harmonized consumer prices dropped 0.1% in August compared to the same month a year prior, down from zero inflation in July. Lastly, the trend pointed down with annual average inflation ticking down to 0.9% in August from 1.0% in July.

FocusEconomics panelists see harmonized inflation ending 2020 at 0.6%, which is unchanged from the previous month’s forecast. For 2021, our panelists expect harmonized inflation to end the year at 1.4%.


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Germany Inflation Chart

Germany Inflation August 20 20 0

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

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