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.