Germany Inflation January 2018


Germany: Inflation edges down in January

February 14, 2018

Consumer prices decreased 0.7% in January over the previous month, according to data released by the Federal Statistics Office (Destatis) on 14 February. The result matched market expectations and contrasted December’s 0.6% increase. January’s fall came on the back of a 6.1% month-on-month drop in prices of clothing and footwear and a 5.8% decrease in prices of recreation and culture.

Inflation edged down from 1.7% in December to 1.6% in January. The result also matched market expectations. Annual average inflation, however, was stable in January at December’s print of 1.7%.

Meanwhile, harmonized inflation (HICP) moderated from 1.6% in December to 1.4% in January, while average HICP in January remained steady at December’s 1.7%.

Germany Inflation Forecast

The Central Bank expects inflation of 1.4% in 2018. FocusEconomics panelists see inflation averaging 1.6% in 2018, which is unchanged from last month’s forecast. For 2019, panelists forecast inflation of 1.8%.

Author:, Economist

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Germany Inflation Chart

Germany Inflation January 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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