The annual inflation rate in Germany was confirmed at 7.9% in May of 2022, and accelerating from 7.4% in the previous month. It was the third straight month of record high inflation since German reunification and also marking the highest level since the winter of 1973/1974, mainly driven by faster rises in prices of energy (38.3% vs 35.3%), and food (11.1% vs 8.6%), which was the highest rate since at least 1992. The prices of energy products increased sharply, especially for heating oil (94.8%), motor fuels (41.0%), and natural gas (55.2%), reflecting the impact of Russia’ invasion on Ukraine. Meanwhile, cost of services continued to rise (2.9 percent vs 3.2 percent), led by a 1.7% gain in rent prices. On a monthly basis, consumer prices climbed 0.9 percent, accelerating slightly from a 0.8 percent growth in April. The CPI, harmonized to compare with other European countries, was up 8.7 percent on the year and rose 1.1 percent month-on-month. source: Federal Statistical Office
Inflation Rate in Germany averaged 2.38 percent from 1950 until 2022, 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 2022.
Inflation Rate in Germany is expected to be 7.50 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 2.10 percent in 2023 and 1.90 percent in 2024, according to our econometric models.