Germany Inflation March 2018


Germany: Inflation picks up in March

April 13, 2018

Consumer prices increased 0.4% in March over the previous month, data released by the Federal Statistics Office (Destatis) on 13 April showed. The result matched market expectations and came in slightly below February’s 0.5% increase. March’s print reflected higher prices in almost all components of the index and in particular for clothing and footwear.

Inflation picked up from 1.4% in February to 1.6% in March, in line with market expectations. Annual average inflation, however, edged down from 1.7% in February to 1.6% in March.

Meanwhile, harmonized inflation (HICP) edged up from 1.2% in February to 1.5% in March, while average HICP remained steady in March at the 1.6% increase recorded in February.

Germany Inflation Forecast

The Central Bank expects inflation of 1.6% in 2018 and 1.7% in 2019. FocusEconomics panelists see inflation averaging 1.7% 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 March 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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