Germany's consumer price inflation rate is expected to pick up to 2.5 percent year-on-year in May 2021, the highest since September of 2008 and slightly above market expectations of 2.3 percent, a preliminary estimate showed. Higher energy prices and the removal of the temporary VAT reduction at the start of the year have seen inflationary forces pick up. Goods prices should advance at a faster pace (3.1 percent vs 2.6 percent in April), boosted by a jump in energy cost (10 percent vs 7.9 percent) while food prices are likely to slow down (1.5 percent vs 1.9 percent). Meantime services inflation is likely to quicken (2.2 percent vs 1.6 percent). On a monthly basis, consumer prices are expected to advance 0.5 percent, also above forecasts of a 0.3 percent rise. source: Federal Statistical Office

Inflation Rate in Germany averaged 2.34 percent from 1950 until 2021, reaching an all time high of 11.54 percent in October of 1951 and a record low of -7.62 percent in June of 1950. This page provides the latest reported value for - Germany Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.

Inflation Rate in Germany is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Germany to stand at 1.20 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.70 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Germany Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.00 11.54 -7.62 1950 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-15 06:00 AM Inflation Rate YoY Final Mar 1.7% 1.3% 1.7% 1.7%
2021-04-29 12:00 PM Inflation Rate YoY Prel Apr 2% 1.7% 1.9% 1.8%
2021-05-12 06:00 AM Inflation Rate YoY Final Apr 2% 1.7% 2% 2%
2021-05-31 12:00 PM Inflation Rate YoY Prel May 2.5% 2% 2.3% 2.3%
2021-06-15 06:00 AM Inflation Rate YoY Final May 2% 2.5% 2.5%
2021-06-29 12:00 PM Inflation Rate YoY Prel Jun
2021-07-13 06:00 AM Inflation Rate YoY Final Jun
2021-07-29 12:00 PM Inflation Rate YoY Prel Jul


News Stream
German Inflation Rate Hits Near 13-Year High in May
Germany's consumer price inflation rate is expected to pick up to 2.5 percent year-on-year in May 2021, the highest since September of 2008 and slightly above market expectations of 2.3 percent, a preliminary estimate showed. Higher energy prices and the removal of the temporary VAT reduction at the start of the year have seen inflationary forces pick up. Goods prices should advance at a faster pace (3.1 percent vs 2.6 percent in April), boosted by a jump in energy cost (10 percent vs 7.9 percent) while food prices are likely to slow down (1.5 percent vs 1.9 percent). Meantime services inflation is likely to quicken (2.2 percent vs 1.6 percent). On a monthly basis, consumer prices are expected to advance 0.5 percent, also above forecasts of a 0.3 percent rise.
2021-05-31
Germany Inflation Rate Confirmed at 2%
Germany's consumer price inflation rate increased to 2.0 percent year-on-year in April 2021, in line with preliminary estimates and after an 1.7 percent gain in March. It was the highest inflation since April 2019, as the temporary reduction of the VAT rates ended. Reduced VAT rates came into effect on July 1st 2020 for six months, as part of government measures to support the economy during the pandemic. Goods prices rose at a faster pace (2.6 percent vs 1.9 percent in March), boosted by a jump in energy cost (7.9 percent vs 4.8 percent) and a higher increase in food prices (1.9 percent vs 1.6 percent). Meanwhile, services inflation came at 1.6 percent, unchanged from the previous month, with rent prices increasing 1.3 percent. On a monthly basis, consumer prices were up 0.7 percent in April, also matching early estimates.
2021-05-12
German Inflation Rate Hits 2-Year High in April
Germany's consumer price inflation rate is expected to pick up to 2.0 percent year-on-year in April 2021, the highest since April 2019 and slightly above market expectations of 1.9 percent, a preliminary estimate showed. Goods prices should advance at a faster pace (2.6 percent vs 1.9 percent in March), boosted by a jump in energy cost (7.9 percent vs 4.8 percent) and a larger increase in food prices (1.9 percent vs 1.6 percent). Meanwhile, services inflation is likely to remain unchanged at 1.6 percent, with rent prices advancing 1.3 percent. On a monthly basis, consumer prices are expected to advance 0.7 percent in April, also above forecasts of a 0.5 percent rise.
2021-04-29
Germany Inflation Rate Confirmed at 1.7%
Consumer prices in Germany increased 1.7 percent year-on-year in March of 2021, in line with preliminary estimates and following a 1.3 percent rise in February. It is the highest inflation rate since February of 2020 as the temporary reduction of the VAT rates ended. Reduced VAT rates came into effect on July 1st 2020 for six months, as part of government measures to support the economy during the pandemic. Higher commodity prices, a CO2 charge introduced at the beginning of the year and a base effect as last year the inflation fell, also contributed to the rise in the CPI. Main increases were seen for energy (4.8 percent), namely heating oil (19.4 percent), motor fuels (12.7 percent), natural gas (2.2 percent), fruit and dairy products (2.5 percent each) and tobacco (4.3 percent). On a monthly basis, consumer prices were up 0.5 percent, also in line with early estimates.
2021-04-15

Germany Inflation Rate
In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent) and Food & non-alcoholic beverages (10 percent). The index also includes Miscellaneous goods & services (7 percent), Furniture, lighting equipment, appliances & other household equipment (5 percent), Restaurant & accommodation services (5 percent), Health (5 percent) and Clothing & footwear (5 percent). The remaining 7 percent of the index is composed by Alcoholic beverages & tobacco, Communication and Education.