Germany Inflation December 2016

Germany

Germany: Inflation jumps to over three-year high in December

January 18, 2017

Consumer prices in December rose 0.7% in a month-on-month comparison, according to data released by the Federal Statistics Office (Destatis) on 18 January. The result met market analysts’ expectations and was up from the 0.1% increase registered in November.

Inflation jumped from 0.8% in November to 1.7% in December, the highest level since July 2013.

Harmonized consumer prices rose 1.0% on a monthly basis in December, a marked pick-up from the flat reading observed in November. HICP inflation in December was 1.7%, up from 0.7% in November, the highest level since July 2013. Meanwhile, average HICP inflation inched up to 0.4% in December following the 0.3% print observed in November.

The Government expects inflation of 1.6% in 2017 and 1.7% in 2018. FocusEconomics panelists expect inflation to average 1.5% in 2017 which is unchanged from last month’s forecast. For 2018, panelists expect inflation to increase to 1.7%.


Author:, Economist

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Germany Inflation December 2016

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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