Producer Prices in Germany
Germany - Producer Prices
Cheaper oil finally reaches German consumers, driving inflation down
Consumer price rose 0.1% over the previous month in December, matching November’s figure. The print was driven by higher prices for services—such as train tickets, with the biggest price increase for local transport—, which was partly, but not entirely, offset by lower prices for goods—cheaper oil prices finally reached the German consumer, while consumers also benefitted from seasonal discounts on clothing and footwear.
Inflation dropped to 1.7% in December from 2.3% in November, the lowest reading since April 2018. Annual average inflation remained stable at November’s 1.9% in December, though. Harmonized inflation (HICP), meanwhile, moderated from 2.2% in November to 1.7% in December.
The FocusEconomics Consensus Forecasts panelists see CPI inflation averaging 1.9% in 2019, which is unchanged from last month’s forecast. For 2020, our panel sees average inflation at 1.7%. In December, the Central Bank expected HICP inflation of 1.4% in 2019 and 1.8% in 2020.
Germany - Producer Prices Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation (PPI, annual variation in %) | -0.5 | -1.7 | -2.3 | 1.0 | 2.3 |
Germany Producer Prices Chart
Source: German Central Bank and FocusEconomics calculations.
Germany Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.17 | 0.41 % | Jan 16 |
| Exchange Rate | 1.14 | 0.65 % | Jan 16 |
| Stock Market | 10,931 | -0.41 % | Jan 16 |
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Economic News
Germany: Cheaper oil finally reaches German consumers, driving inflation down
January 16, 2019
Consumer price rose 0.1% over the previous month in December, matching November’s figure.
Germany: November trade data disappoints as fears of a technical recession remain
January 9, 2019
Exports contracted 0.4% over the previous month in November, swinging from an upwardly revised 0.9% month-on-month expansion in October (previously reported: +0.4% month-on-month).
Germany: Industrial production contracts in November as worries over a technical recession grow
January 8, 2019
Industrial production fell 1.9% over the previous month in November, a sharper drop than the revised 0.8% month-on-month contraction in October (previously reported: -0.5% month-on-month).
Germany: Consumer confidence expected to remain stable at the start of the new year
December 21, 2018
The forward-looking GfK Group Consumer Climate index is expected to be stable at December’s 10.4 points in January.
Germany: Business confidence falls to an over two-year low at the close of the year
December 18, 2018
Business confidence declined for the third consecutive month in December, with the headline figure dropping from 102 in November to 101 in December.
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