Germany Inflation November 2021

Germany

Germany: Harmonized inflation surges to record high in November

December 10, 2021

Harmonized consumer prices rose 0.27% month-on-month in November, easing from the 0.54% increase recorded in October. November’s print reflected falling prices for alcoholic beverages and tobacco, and recreation and culture. Moreover, prices for transport and restaurants and hotels rose at a softer pace.

Harmonized prices jumped 6.0% in November, which followed October’s 4.6% increase. November’s result marked the highest print on record. Consequently, the trend pointed up, with annual average inflation coming in at 2.7% in November (October: 2.1%).

FocusEconomics panelist expect harmonized inflation to average 2.2% in 2022 and 1.7% in 2023.


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Germany Inflation November 2021 3

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


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