Brandenburg Gate in Berlin, Germany

Germany Inflation July 2020

Germany: Inflation rises in June

Harmonized consumer prices increased 0.50% over the last month in July, following June’s 0.40% increase. The print reflected a notable uptick in energy prices, particularly due to pricier oil. Meanwhile, seasonality also played a role as prices for overnight stays and package holidays rose.

Harmonized inflation jumped to 3.1% in July from 2.1% in June. A low base effect played a role in driving up annual price pressures; in July 2020 the government temporarily reduced VAT rates until December 2020 as part of its fiscal response to the health crisis, lowering consumer prices. The economic reopening also fueled price pressures. Meanwhile, the trend pointed up, with annual average harmonized inflation coming in at 1.1% in July (June: 0.8%).

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest