Germany's consumer price inflation rate is expected to climb to 5.2 percent year-on-year in November 2021, the highest rate since June 1992 and above market expectations of 5 percent, a preliminary estimate showed. The reading came in also well above the ECB's target of 2 percent, adding to concerns about growing inflationary pressure in Europe's largest economy due to ongoing supply issues and base effects, especially the temporary VAT reduction and the sharp decline in mineral oil product prices last year. Main upward pressure should come from energy products (22.1 percent vs 18.6 percent in October), food (4.5 percent vs 4.4 percent), and services (2.8 percent vs 2.4 percent). On a monthly basis, consumer prices are expected to fall 0.2 percent in November. The CPI, harmonized to compare with other European countries, was up 6.0 percent on the year and rose 0.3 percent month-on-month. 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 December 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
2021-11-10 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 5.2% 4.5% 5% 5%
2021-12-10 07:00 AM Inflation Rate YoY Final Nov 4.5% 5.2% 5.2%


Related Last Previous Unit Reference
Inflation Rate 5.20 4.50 percent Nov/21
Inflation Rate Mom -0.20 0.50 percent Nov/21
Consumer Price Index CPI 110.50 110.70 points Nov/21
Harmonised Consumer Prices 111.00 110.70 points Nov/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
German Inflation Rate Jumps to 29-Year High
Germany's consumer price inflation rate is expected to climb to 5.2 percent year-on-year in November 2021, the highest rate since June 1992 and above market expectations of 5 percent, a preliminary estimate showed. The reading came in also well above the ECB's target of 2 percent, adding to concerns about growing inflationary pressure in Europe's largest economy due to ongoing supply issues and base effects, especially the temporary VAT reduction and the sharp decline in mineral oil product prices last year. Main upward pressure should come from energy products (22.1 percent vs 18.6 percent in October), food (4.5 percent vs 4.4 percent), and services (2.8 percent vs 2.4 percent). On a monthly basis, consumer prices are expected to fall 0.2 percent in November. The CPI, harmonized to compare with other European countries, was up 6.0 percent on the year and rose 0.3 percent month-on-month.
2021-11-29
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

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.