Germany Inflation

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Germany: Inflation inches down to almost five-year low

October 30, 2014

Consumer prices fell 0.3% over the previous month in October, according to preliminary data released by the Federal Statistics Office (Destatis) on 30 October. The reading, which represented the lowest inflation since January, came in below both September’s flat reading and market expectations of a milder 0.1% drop.

Annual headline inflation inched down from September’s 0.9% to 0.8% in October, the lowest inflation rate since February 2010. Annual average inflation was stable at September’s 1.1%, which had represented a 46-month low.

Meanwhile, annual HICP inflation (based on the harmonized index of consumer prices) inched down from September’s 0.8% to 0.7% in October. Annual average HICP inflation was unchanged at September’s 1.0%.

The Central Bank expects inflation to average 1.1% in 2014, before increasing to 1.5% in 2015. FocusEconomics panelists expect inflation to average 1.0% in 2014, which is unchanged from the previous month’s forecast. For 2015, panelists expect inflation to increase to 1.5%, which is down 0.1 percentage points from last month’s estimate


Author: Teresa Kersting, Economist

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Germany Inflation October 2014

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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