Germany Inflation May 2017


Germany: Inflation moderates in May

May 30, 2017

Consumer prices contracted 0.2% in May, according to preliminary data released by the Federal Statistics Office (Destatis) on 30 May. The result came in below April’s flat reading.

The rise in inflation observed in recent months seems to be weakening. Inflation decreased from 2.0% in April to 1.5% in May, undershooting market expectations of a softer decline to 1.6%. Meanwhile, annual average inflation edged up from 1.1% in April to 1.2% in May.

Harmonized inflation also decelerated in May, falling to 1.4% from April’s 2.0%, while average HICP inflation rose to 1.1% from 1.0% in April.

The government expects inflation to be 1.8% in 2017. FocusEconomics panelists expect inflation to average 1.8% in 2017, which is up 0.1 percentage points from the previous month’s forecast. For 2018, panelists expect inflation to increase to 1.7%.

Author:, Economist

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Germany Inflation Chart

Germany Inflation May 2017

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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