Annual inflation rate in Germany rose to 4.5% in October of 2021, the highest since August of 1993 and matching preliminary estimates. There are several reasons for the high inflation rate, including base effects due to low prices in 2020, the temporary VAT reduction in the second half of 2020, and crisis-related effects, such as delivery bottlenecks and marked price increases which also reflected in the consumer price index. Energy prices were among the top contributors (18.6%), namely heating oil (+101.1%), motor fuels (+35%), natural gas (+7.4%) and electricity (+2.5%). Food prices were up 4.4%, namely dairy products and eggs (+6%) and bread and cereals (+5%). Prices of non-durable consumer goods in general rose 8.7% and price increases were also recorded for durable consumer goods (+3.7%, including vehicles: +7.2%; furniture and lighting equipment: +5%). On a monthly basis, the inflation was 0.5%. source: Federal Statistical Office

Inflation Rate in Germany averaged 2.35 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 November of 2021.

Inflation Rate in Germany is expected to be 4.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Inflation Rate is projected to trend around 1.70 percent in 2022 and 1.80 percent in 2023, according to our econometric models.

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Germany Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-28 12:00 PM Inflation Rate YoY Prel Oct 4.5% 4.1% 4.4% 4.4%
2021-11-10 07:00 AM Inflation Rate YoY Final Oct 4.5% 4.1% 4.5% 4.5%
2021-11-29 01:00 PM Inflation Rate YoY Prel Nov 4.5% 5% 5%


Related Last Previous Unit Reference
Inflation Rate 4.50 4.10 percent Oct/21
Inflation Rate Mom 0.50 0.00 percent Oct/21
Consumer Price Index CPI 110.70 110.10 points Oct/21
Harmonised Consumer Prices 110.70 110.10 points Oct/21
Core Inflation Rate 2.90 2.90 percent Oct/21
Core Consumer Prices 109.90 109.80 points Oct/21
Producer Prices 122.80 118.30 points Oct/21
Producer Prices Change 18.40 14.20 percent Oct/21
Export Prices 111.00 109.50 points Oct/21
Import Prices 118.20 113.90 points Oct/21
Food Inflation 4.40 4.80 percent Oct/21
Producer Price Inflation MoM 3.80 2.30 percent Oct/21
Wholesale Prices 117.40 115.60 points Oct/21
CPI Transportation 117.10 114.80 points Oct/21
CPI Housing Utilities 109.20 108.30 points Oct/21

News Stream
Germany Inflation Rate Confirmed at 4.5%, Highest since 1993
Annual inflation rate in Germany rose to 4.5% in October of 2021, the highest since August of 1993 and matching preliminary estimates. There are several reasons for the high inflation rate, including base effects due to low prices in 2020, the temporary VAT reduction in the second half of 2020, and crisis-related effects, such as delivery bottlenecks and marked price increases which also reflected in the consumer price index. Energy prices were among the top contributors (18.6%), namely heating oil (+101.1%), motor fuels (+35%), natural gas (+7.4%) and electricity (+2.5%). Food prices were up 4.4%, namely dairy products and eggs (+6%) and bread and cereals (+5%). Prices of non-durable consumer goods in general rose 8.7% and price increases were also recorded for durable consumer goods (+3.7%, including vehicles: +7.2%; furniture and lighting equipment: +5%). On a monthly basis, the inflation was 0.5%.
2021-11-10
German Inflation Confirmed at Over 27-Year High
The consumer price inflation rate in Germany was confirmed at 4.1% year-on-year in September 2021, the highest level since December 1993, due to further recovery in domestic demand and base effects from low prices in 2020, in particular the temporary lowering of VAT rates and a decline in the price of petroleum products. The introduction of CO2 pricing as of January 2021 and crisis-related effects, such as marked price increases at upstream stages in the economic process, are also weighing on the CPI. Goods prices rose by 6.1% (vs 5.6% in August), boosted by energy (14.3% vs 12.6%) and food cost (4.9% vs 4.6%). Meanwhile, services inflation was steady (at 2.5%), on the back of net rents exclusive of heating expenses (1.4%), services of social facilities (5%), maintenance and repair of vehicles (5.4%) and for catering services in restaurants, cafes and the like (3.6%). On a monthly basis, consumer prices were unchanged for a second straight month in September.
2021-10-13
German Inflation Rate Hits Fresh 27-Year High
Germany's consumer price inflation rate is expected to accelerate to 4.1 percent year-on-year in September 2021, the highest since December 1993 and compared with market expectations of 4.2 percent, adding to concerns over inflationary pressure in Europe's largest economy. Goods inflation likely accelerated to 6.1 percent from 5.6 percent in August, boosted by energy (14.3 percent vs 12.6 percent) and food cost (4.9 percent vs 4.6 percent). In addition, services inflation is expected to remain unchanged at 2.5 percent, with rents prices rising at slightly faster pace (1.4 percent vs 1.3 percent). On a monthly basis, consumer prices are seen flat for a second straight month in September.
2021-09-30

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.