Germany Inflation June 2020

Germany

Germany: Inflation rises in June

July 16, 2020

Harmonized consumer prices increased 0.66% over the last month in June, following flatlining in May. June's result marked the sharpest increase in prices since April 2019. The print was driven by pricier energy products amid rising oil prices. This offset a notable drop in prices for clothing and footwear due to seasonal discounts.

Inflation rose to 0.9% in June, up from May’s 0.5% print. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.1% in June (May: 1.2%).

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.6% in 2020. For 2021, our panel sees harmonized inflation averaging 1.4%


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Germany Inflation June 20 20

Note: Month-on-month and year-on-year changes of harmonized index of consumer prices %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.


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