Inflation in Germany

Germany Inflation (eop) | Economic News & Forecasts

Germany - Inflation (end of period)

Harmonized inflation falls to lowest level since November 2016 in September

Harmonized German consumer prices fell 0.1% month-on-month in September, matching the result of the prior month. The reading reflected pricier items such as alcoholic beverages and tobacco, clothing and footwear, housing and utilities being offset by significantly cheaper recreation and culture as well as a drop in the price level for food and non-alcoholic beverages.

Harmonized inflation, meanwhile, edged down from 1.1% in August to 0.9% in September, marking a near-three-year low; meanwhile, average harmonized inflation inched down from 1.7% in August to 1.6% in September. Finally, consumer price inflation moderated to 1.2% in September from 1.4% in August, and annual average consumer price inflation fell slightly to 1.6% in September from 1.7% in the prior month.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.5% in 2020, which is unchanged from last month’s forecast. For 2021, our panel sees harmonized inflation averaging 1.6%. This is largely in line with the Bundesbank’s June 2019 projections of harmonized inflation reaching 1.5% in 2020 and 1.7% in 2021.

Germany - Inflation (eop) Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %, eop)1.4  0.2  0.2  1.5  1.4  

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Germany Inflation (eop) Chart


Germany Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Federal Statistics Office and FocusEconomics calculations

Germany Facts

ValueChangeDate
Bond Yield-0.680.41 %Sep 04
Exchange Rate1.100.65 %Sep 04
Stock Market12,025-0.41 %Sep 04

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