Brandenburg Gate in Berlin, Germany

Germany Inflation November 2023

Germany: Harmonized inflation drops to lowest level since June 2021 in November

Harmonized inflation came in at 2.3% in November, down from October’s 3.0%. November’s reading marked the weakest inflation rate since June 2021 and was lower than the market had been expecting. Price pressures continued to be dampened by a fall in energy prices.

Annual average harmonized inflation fell to 6.5% in November (October: 7.3%). Meanwhile, consumer price inflation fell to 3.2% in November, from the previous month’s 3.8%.

Finally, harmonized consumer prices dropped 0.71% from the previous month in November, below the 0.16% drop recorded in October. November’s result marked the weakest reading since December 2022.

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