Germany's consumer price inflation rate is expected to climb to 5.3 percent in December of 2021, the most since June 1992 and above market expectations of 5.1 percent, a preliminary estimate showed. The inflation rate remains well above the ECB's target of 2 percent since July 2021, due to ongoing supply issues and base effects, especially the temporary VAT reduction and the sharp decline in mineral oil product prices last year. The main upward pressure should come from energy products (18.3 percent vs 22.1 percent in November), food (6 percent vs 4.5 percent), and services (3.1 percent vs 2.9 percent). On a monthly basis, consumer prices are expected to rise 0.5 percent in December. Meanwhile, the harmonized CPI which compares with other European countries was up 5.7 percent on the year, down from the previous month’s 6 percent advance. 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 January of 2022.

Inflation Rate in Germany is expected to be 4.50 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 1.80 percent in 2023, according to our econometric models.

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Germany Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-12-10 07:00 AM Inflation Rate YoY Final Nov 5.2% 4.5% 5.2% 5.2%
2022-01-06 01:00 PM Inflation Rate YoY Prel Dec 5.3% 5.2% 5.1% 5.2%
2022-01-19 07:00 AM Inflation Rate YoY Final Dec 5.2% 5.3% 5.3%


Related Last Previous Unit Reference
Inflation Rate 5.30 5.20 percent Dec/21
Inflation Rate Mom 0.50 -0.20 percent Dec/21
Harmonised Consumer Prices 111.50 111.00 points Dec/21
Consumer Price Index CPI 111.20 110.50 points Dec/21
Core Inflation Rate 3.30 2.90 percent Nov/21
Core Consumer Prices 109.30 109.90 points Nov/21
Producer Prices 123.80 122.80 points Nov/21
Producer Prices Change 19.20 18.40 percent Nov/21
Export Prices 111.90 111.00 points Nov/21
Import Prices 121.70 118.20 points Nov/21
Food Inflation 4.60 4.40 percent Nov/21
Producer Price Inflation MoM 0.80 3.80 percent Nov/21
Wholesale Prices 119.10 118.90 points Dec/21
CPI Transportation 118.50 117.10 points Nov/21
CPI Housing Utilities 109.50 109.20 points Nov/21

News Stream
German Inflation Rate Hits Fresh High since 1992
Germany's consumer price inflation rate is expected to climb to 5.3 percent in December of 2021, the most since June 1992 and above market expectations of 5.1 percent, a preliminary estimate showed. The inflation rate remains well above the ECB's target of 2 percent since July 2021, due to ongoing supply issues and base effects, especially the temporary VAT reduction and the sharp decline in mineral oil product prices last year. The main upward pressure should come from energy products (18.3 percent vs 22.1 percent in November), food (6 percent vs 4.5 percent), and services (3.1 percent vs 2.9 percent). On a monthly basis, consumer prices are expected to rise 0.5 percent in December. Meanwhile, the harmonized CPI which compares with other European countries was up 5.7 percent on the year, down from the previous month’s 6 percent advance.
2022-01-06
German Inflation Rate Confirmed at 29-Year HIgh
Annual inflation rate in Germany rose to 5.2% in November of 2021, the highest rate since June of 1992. 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. Goods prices increased by 7.9% vs 7.0% in October), boosted by energy (22.1% vs 18.6%), namely heating oil (101.9%), motor fuels (43.2%), natural gas (9.6%) and electricity (3.1%). Main upward pressure also came from food (4.5 percent vs 4.4 percent), and services (2.9 percent vs 2.4 percent). On a monthly basis, consumer prices fell 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.
2021-12-10
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
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.