Brandenburg Gate in Berlin, Germany

Germany Inflation April 2023

Germany: Harmonized inflation drops to lowest level since March 2022 in April

Harmonized inflation came in at 7.6% in April, which was down from March’s 7.8%. April’s reading represented the weakest inflation rate since March 2022. The result was largely due to a more moderate increase in prices for food and non-alcoholic beverages.

The trend was unchanged, with annual average harmonized inflation coming in at March’s 9.3% in April. Meanwhile, consumer price inflation edged down to 7.2% in April from March’s 7.4%. Inflation excluding energy and food—a measure of core inflation—was stable at 5.8% in April.

Finally, harmonized consumer prices rose 0.56% in April over the previous month, below the 1.05% rise logged in March. April’s result marked the weakest reading since January.

Our panelists expect average inflation to ease to 4.1% by Q4 2023. A tougher base effect and government measures will push price pressures down. The recent fall in natural gas prices is a downside risk to the outlook. Stubbornly high core inflation—which remained frozen in April—is an upside risk.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest