Producer Prices in Germany
Germany - Producer Prices
Inflation drops to lowest level since August 2016 in May
Harmonized consumer prices were unchanged from the previous month in May, below the 0.4% increase logged in April. May's result reflected the impact of government-imposed restrictive measures, which led to a broad-based decline in prices and offset a notable pick-up in prices of alcoholic beverages and tobacco.
Harmonized inflation came in at 0.5% in May, moderately below April’s 0.8%. May's print marked the lowest inflation rate since August 2016. Meanwhile, the trend was stable, with annual average harmonized inflation coming in at 1.2% in May (April: 1.2%).
FocusEconomics panelists see harmonized inflation averaging 0.7% in 2020, which is unchanged from last month’s forecast. For 2021, our panel expects average inflation of 1.4%.
Germany - Producer Prices Data
|Inflation (PPI, annual variation in %)||-1.9||-1.6||2.7||2.6||1.1|
5 years of economic forecasts for more than 30 economic indicators.
Germany Producer Prices Chart
Source: German Central Bank and FocusEconomics calculations.
|Bond Yield||-0.19||0.41 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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July 9, 2020
In May, merchandise exports grew 9.0% month-on-month on a calendar- and seasonally-adjusted basis, swinging from the steep 24.0% contraction in April.
July 7, 2020
Industrial production rose 7.8% calendar-adjusted month-on-month basis in May (April: -17.5% mom).
June 25, 2020
Consumer confidence is expected to recover further from the Covid-19 shock at the opening of the third quarter; however, sentiment is forecast to remain pessimistic.
June 25, 2020
In early June, the German government announced fresh stimulus of EUR 130 billion to kickstart the economy, bringing the total fiscal stimulus up to around EUR 1.2 trillion (roughly equivalent to around 35% of 2019 GDP) which has been unleashed as part of efforts to buttress the economy against fallout from Covid-19. The new stimulus equals around 4% of GDP and encompasses numerous measures, including reducing the tax burden through temporarily lowering VATs until the end of this year, as well as further liquidity and loan support of around EUR 25 billion for SMEs through August, conditional on at least a 60% annual drop in sales in April and May.
June 24, 2020
The business confidence indicator came in at 86.2 in June, up from May's 79.7.