Germany Inflation March 2019


Germany: Harmonized inflation eases in March

April 11, 2019

Harmonized consumer prices rose 0.5% month-on-month in March, matching the price increase in February. March’s print reflected pricier clothing and footwear; alcoholic beverages and tobacco; and transportation. On the other hand, food and non-alcoholic beverages became cheaper while prices for household equipment also dropped.

Harmonized inflation, meanwhile, dropped from 1.7% in February to 1.4% in March; however, annual average harmonized inflation remained stable at 2.0% in March for the third month running. Lastly, non-harmonized annual average inflation edged down to 1.7% from 1.8% in February.

Germany Inflation Forecast

The FocusEconomics Consensus Forecasts panelists see harmonized inflation averaging 1.5% in 2019, which is down 0.2 percentage points from last month’s forecast. For 2020, our panel sees average inflation at 1.7%. In December, the Central Bank expected harmonized inflation of 1.4% in 2019 and 1.8% in 2020.

Author:, Economist

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Germany Inflation Chart

Germany Inflation March 2019

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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