Germany Inflation June 2018


Germany: Inflation eases marginally, but remains elevated in June

July 12, 2018

In June, consumer prices in Germany rose 0.1% over the previous month, down from a 0.5% increase in May, according to data released by the Federal Statistics Office (Destatis) on 12 July. The print reflected marked price increases for air tickets, package holidays, accommodation services and energy. Energy prices were chiefly affected by higher prices for motor fuels, as household energy prices were largely unchanged. Meanwhile, food prices fell over the prior month.

Inflation eased to 2.1% in June, fractionally down from 2.2% in May. Meanwhile, annual average inflation was stable at 1.7%.

Finally, harmonized inflation (HICP) matched the headline inflation figure of 2.1% in June, down from 2.2% in the previous month.

The Central Bank expects HICP inflation of 1.8% in 2018 and 1.7% in 2019. FocusEconomics panelists also see inflation averaging 1.8% in 2018, which is up 0.1 percentage points from last month’s forecast. For the following year, our panel expects average inflation to remain at 1.8%.

Author:, Economist

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Germany Inflation Chart

Germany Inflation June 2018

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

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