Germany Inflation December 2015


Germany: Inflation inches down in December; full year 2015 inflation drops to multi-year low

January 19, 2016

Consumer prices in December fell 0.1% over the previous month, according to data released by the Federal Statistics Office (Destatis) on 19 January. The result contrasts November’s 0.1% rise and came mainly on the back of lower prices for energy as well as clothing and footwear.

Inflation inched down from November’s 0.4% to 0.3% in December, closing 2015 marginally above 2014’s 0.2%. Meanwhile, annual average inflation in the full year 2015 came in at 0.2%, marking a multi-year low and matching November’s reading.

HICP inflation, which is based on harmonized consumer prices, fell slightly from November’s 0.3% to 0.2%. Annual average HICP inflation remained at 0.1% in December.

The government expects inflation to be 1.2% in 2016. FocusEconomics panelists expect inflation to average 1.1% in 2016, which is down 0.1 percentage points from the previous month’s forecast. For 2017, panelists expect inflation to increase to 1.7%.

Author: Teresa Kersting, Economist

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Germany Inflation Chart

Germany Inflation December 2015

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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