The annual inflation rate in Germany was at 8.6 percent in December of 2022, the lowest in four months and in line with preliminary estimates, but well above the European Central Bank’s target of about 2 percent. Goods inflation slowed sharply (13.9 percent vs 17.1 percent in November) due to a softer rise in costs of both energy (34.7 percent vs 38.7 percent) and food (20.7 percent vs 21.1 percent). Meanwhile, services inflation accelerated (3.9 percent vs 3.6 percent), and rent prices advanced 1.9%, the same pace as in the previous month. On a monthly basis, consumer prices declined 0.8 percent in December, following a 0.5 percent fall in November. The EU-CPI harmonized rose 9.6 percent on the year and dropped 1.2 percent month-on-month. Considering full 2022, inflation was 7.9% source: Federal Statistical Office

Inflation Rate in Germany averaged 2.43 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 January of 2023.

Inflation Rate in Germany is expected to be 6.50 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 2.50 percent in 2024 and 2.20 percent in 2025, according to our econometric models.

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Germany Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-03 01:00 PM Inflation Rate YoY Prel Dec 8.6% 10% 9.1% 9.1%
2023-01-17 07:00 AM Inflation Rate YoY Final Dec 8.6% 10% 8.6% 8.6%
2023-02-10 01:00 PM Inflation Rate YoY Prel Jan 8.6% 9.2% 9%


Related Last Previous Unit Reference
Inflation Rate 8.60 10.00 percent Dec 2022
Inflation Rate MoM -0.80 -0.50 percent Dec 2022
Harmonised Consumer Prices 122.00 123.50 points Dec 2022
Consumer Price Index CPI 120.60 121.60 points Dec 2022
Core Inflation Rate 5.17 5.03 percent Dec 2022
Core Consumer Prices 115.90 114.80 points Dec 2022
Producer Prices 158.10 158.70 points Dec 2022
Producer Prices Change 21.60 28.20 percent Dec 2022
Export Prices 124.90 125.50 points Nov 2022
Import Prices 139.40 146.00 points Nov 2022
Food Inflation 20.70 21.10 percent Dec 2022
Producer Price Inflation MoM -0.40 -3.90 percent Dec 2022
North Rhine Westphalia CPI YoY 8.70 10.40 percent Dec 2022
Hesse CPI YoY 8.10 9.70 percent Dec 2022
Brandenburg CPI YoY 9.10 10.50 percent Dec 2022
Bavaria CPI YoY 9.20 10.90 percent Dec 2022
Baden Wuerttemberg CPI YoY 8.50 9.60 percent Dec 2022
Saxony CPI YoY 8.70 9.90 percent Dec 2022
Wholesale Prices 134.40 136.60 points Dec 2022
CPI Transportation 127.10 130.00 points Dec 2022
CPI Housing Utilities 119.80 124.30 points Dec 2022

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 of Alcoholic beverages & tobacco, Communication and Education.
Actual Previous Highest Lowest Dates Unit Frequency
8.60 10.00 11.54 -7.62 1950 - 2022 percent Monthly

News Stream
German Inflation Rate Confirmed at 8.6% in December
The annual inflation rate in Germany was at 8.6 percent in December of 2022, the lowest in four months and in line with preliminary estimates, but well above the European Central Bank’s target of about 2 percent. Goods inflation slowed sharply (13.9 percent vs 17.1 percent in November) due to a softer rise in costs of both energy (34.7 percent vs 38.7 percent) and food (20.7 percent vs 21.1 percent). Meanwhile, services inflation accelerated (3.9 percent vs 3.6 percent), and rent prices advanced 1.9%, the same pace as in the previous month. On a monthly basis, consumer prices declined 0.8 percent in December, following a 0.5 percent fall in November. The EU-CPI harmonized rose 9.6 percent on the year and dropped 1.2 percent month-on-month. Considering full 2022, inflation was 7.9%
2023-01-17
German Inflation Rate Slows More than Forecast
The annual consumer price inflation in Germany fell to 8.6% in December 2022, from 10% reported in November and below the market consensus of 9.1%, a preliminary estimate showed. It was the lowest rate since August as a government's initiative to lower household natural gas bills came into effect. Berlin announced a federal one-off payment in December to cover the monthly instalment for gas and heat for all households and small- to medium-sized businesses. Goods inflation slowed sharply to 13.9% (vs 17.1% in November) due to smaller increases in costs for both energy (24.4% vs 38.7%) and food (20.7% vs 21.1%). On the other hand, services inflation accelerated to 3.9% (vs 3.6% in November), with rent prices advancing 1.9%, the same pace as in November. Still, inflation remained well above the European Central Bank's target of about 2%. On a monthly basis, consumer prices dropped 0.8% in December, much more than an expected 0.3% decline.
2023-01-03
German Inflation Rate Confirmed at 10% in November
The annual inflation rate in Germany was confirmed at 10.0% in November 2022, remaining well above the European Central Bank's target of about 2 percent. The goods inflation slowed to 17.1% in November from 17.8% a month earlier, due to a softer rise in energy cost (38.7 percent vs 43.0 percent). Meanwhile, food prices increased further (21.1 percent vs 20.3 percent). Also, cost of services eased (3.6% vs 4.0%), even as the rent price rate accelerated to 1.9 percent from 1.8 percent. The prices of energy products increased sharply, especially for natural gas (112.2%), heating oil (55.0%), electricity (27.1%), and motor fuels (14.6%). On a monthly basis, consumer prices were down 0.5% in November, the first decline in a year The CPI, harmonized to compared with other European countries, advanced 11.3% on the year, the second-highest level on record, and stalled month-on-month.
2022-12-13