The consumer price inflation rate in Germany was confirmed at 3.9% year-on-year in August 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 the 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 5.6% (vs 5.4% in July), boosted by energy (12.6% vs 11.6%) and food cost (4.6% vs 4.3%). In addition, services inflation accelerated to 2.5% from 2.2%, on the back of net rents exclusive of heating expenses (1.4%), services of social facilities (5%), maintenance and repair of vehicles (5.1%) and for catering services in restaurants, cafes and the like (3.5%). On a monthly basis, consumer prices were unchanged. source: Federal Statistical Office
Inflation Rate in Germany averaged 2.34 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 September of 2021.
Inflation Rate in Germany is expected to be 4.00 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 1.80 percent in 2022 and 2.00 percent in 2023, according to our econometric models.