Germany Inflation April 2020

Germany

Germany: Harmonized inflation eases in April

May 14, 2020

Harmonized consumer prices rose 0.4% month-on-month in April, up from March’s 0.1% increase. The print was driven by notable upticks in prices for food, and alcoholic beverages and tobacco, which more than offset a marked drop in transport costs amid historically low oil prices.

Harmonized inflation, meanwhile, fell to 0.8% in April from 1.3% in March, with the annual average harmonized inflation rate easing to 1.2% from 1.4%. Consumer price inflation, furthermore, also eased to 0.8% in April from March’s 1.3%, and annual average consumer price inflation moderated to 1.4% from 1.5%.

Harmonized consumer prices rose 0.4% month-on-month in April, up from March’s 0.1% increase. The print was driven by notable upticks in prices for food, and alcoholic beverages and tobacco, which more than offset a marked drop in transport costs amid historically low oil prices.

Harmonized inflation, meanwhile, fell to 0.8% in April from 1.3% in March, with the annual average harmonized inflation rate easing to 1.2% from 1.4%. Consumer price inflation, furthermore, also eased to 0.8% in April from March’s 1.3%, and annual average consumer price inflation moderated to 1.4% from 1.5%.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.7% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, our panel sees harmonized inflation averaging 1.3%.


Author:, Economist

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Germany Inflation April 20 20

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


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