Consumer prices in German fell 0.1 percent from a year earlier in July 2020, after a 0.9 percent rise in the previous month and matching preliminary estimates. This was the first month of deflation since April 2016, as goods prices dropped (-1.4 percent vs 0.2 percent in June), due to a faster fall in energy prices (-6.7 percent vs -6.2 percent) while food prices rose at a softer pace (1.2 percent vs 4.4 percent). Also, services inflation eased to 1.2 percent from 1.4 percent, led by growing rent prices (1.4 percent). The harmonised index of consumer prices were unchanged from a year earlier and by 0.5 percent fall from the previous month.

Inflation Rate in Germany averaged 2.35 percent from 1950 until 2020, 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 August of 2020. source: Federal Statistical Office

Inflation Rate in Germany is expected to be -0.20 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 1.40 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.30 percent in 2021 and 1.60 percent in 2022, according to our econometric models.

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Germany Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.10 0.90 11.54 -7.62 1950 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-06-29 12:00 PM Inflation Rate YoY Prel Jun 0.9% 0.6% 0.6% 0.5%
2020-07-14 06:00 AM Inflation Rate YoY Final Jun 0.9% 0.6% 0.9% 0.9%
2020-07-30 12:00 PM Inflation Rate YoY Prel Jul -0.1% 0.9% 0.2% 0.3%
2020-08-13 06:00 AM Inflation Rate YoY Final Jul -0.1% 0.9% -0.1% -0.1%
2020-08-31 12:00 PM Inflation Rate YoY Prel Aug -0.1%
2020-09-11 06:00 AM Inflation Rate YoY Final Aug
2020-09-29 12:00 PM Inflation Rate YoY Prel Sep -0.2%
2020-10-13 06:00 AM Inflation Rate YoY Final Sep -0.2%


News Stream
German Consumer Prices Fall 0.1% in July
Consumer prices in German fell 0.1 percent from a year earlier in July 2020, after a 0.9 percent rise in the previous month and matching preliminary estimates. This was the first month of deflation since April 2016, as goods prices dropped (-1.4 percent vs 0.2 percent in June), due to a faster fall in energy prices (-6.7 percent vs -6.2 percent) while food prices rose at a softer pace (1.2 percent vs 4.4 percent). Also, services inflation eased to 1.2 percent from 1.4 percent, led by growing rent prices (1.4 percent). The harmonised index of consumer prices were unchanged from a year earlier and by 0.5 percent fall from the previous month.
2020-08-13
Germany Slips into Deflation in July
Consumer prices in Germany are seen decreasing 0.1 percent from a year earlier in July 2020, the first month of deflation since April 2016 and compared to market expectations of a 0.2 percent rise. Goods prices should fall 1.4 percent (vs 0.2 percent in June) led by a decline in energy cost (-6.7 percent vs -6.2 percent) and a slowdown in food inflation (1.2 percent vs 4.4 percent). At the same time, services prices are set to increase at a slower pace (1.2 percent vs 1.4 percent). On a monthly basis, consumer prices are expected to drop 0.5 percent, the most since January and compared to forecasts of a 0.2 percent fall.
2020-07-30
Germany Inflation Rate Confirmed at 0.9% in June
The annual inflation rate in German was confirmed at 0.9 percent in June 2020, up from 0.6 percent in the previous month. Services inflation accelerated to 1.4 percent from 1.3 percent, led by growing rent prices (1.4 percent). Also, goods prices recovered (0.2 percent vs -0.4 percent in May), mainly due to a softer fall in energy prices (-6.2 percent vs -8.5 percent), while food cost rose at a softer pace (4.4 percent vs 4.5 percent). The harmonised index of consumer prices rose by 0.8 percent from a year earlier and by 0.7 percent from the previous month.
2020-07-14
German June Inflation Beats Expectations
German's consumer price inflation is expected to increase to 0.9 percent year-on-year in June 2020 from 0.6 percent in the previous month, easily beating market expectations of 0.6 percent. Services inflation should pick up to 1.4 percent from 1.3 percent, led by growing rent prices, while goods prices are seen rebounding 0.2 percent after May's 0.4 percent fall. Within goods, energy deflation will probably ease to 6.2 percent from 8.5 percent and food inflation is set to remain virtually unchanged at 4.4 percent, compared to 4.5 percent in May. On a monthly basis, consumer prices rose 0.6 percent in May, also above consensus of a 0.3 percent gain.
2020-06-29

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.