Germany Inflation

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Germany: Inflation rises in May

June 1, 2015

Consumer prices in May rose 0.1% over the previous month, according to preliminary data released by the Federal Statistics Office (Destatis) on 1 June. The result followed April’s flat reading.

Headline inflation edged up from April’s 0.5% to 0.7% in May, thus marking the highest reading in seven months. Meanwhile, annual average inflation remained at April’s 0.5%.

HICP inflation, which is based on the harmonized index of consumer prices, rose from April’s 0.3% to 0.7% in March, marking the highest print in seven months. Annual average HICP inflation came in at 0.4% in May, which mirrored April’s reading.

The Central Bank expects inflation to be 1.1% in 2015 and sees it increasing to 1.8% in 2016. FocusEconomics panelists expect inflation to average 0.4% in 2015, which is up 0.1 percentage points from the previous month’s forecast. For 2016, panelists expect inflation to increase to 1.6%.


Author: Teresa Kersting, Economist

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Germany Inflation Chart


Germany Inflation May 2015

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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