The German consumer price inflation rate moderated to 6.1 percent year-on-year in August 2023, a marginal decline from 6.2 percent in the previous month and slightly above market expectations of 6.0 percent, a preliminary estimate showed. Despite matching the 14-month low recorded in May, the rate still remained well above the European Central Bank's target of 2.0 percent. Notably, the core rate, excluding volatile items like food and energy, was unchanged at 5.5 percent. Services inflation eased to 5.1 percent from July's 5.2 percent, while the goods rate picked up to 7.1 percent from 7.0 percent due to an acceleration in energy cost. Food prices, on other hand, rose at a slower pace. On a monthly basis, consumer prices advanced by 0.3 percent in August, the same pace as in the previous period. source: Federal Statistical Office

Inflation Rate in Germany averaged 2.49 percent from 1950 until 2023, reaching an all time high of 11.70 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 August of 2023.

Inflation Rate in Germany is expected to be 5.90 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 2.40 percent in 2024 and 2.20 percent in 2025, according to our econometric models.

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Germany Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-08-08 06:00 AM Inflation Rate YoY Final Jul 6.2% 6.4% 6.2% 6.2%
2023-08-30 12:00 PM Inflation Rate YoY Prel Aug 6.1% 6.2% 6% 6.1%
2023-09-08 06:00 AM Inflation Rate YoY Final Aug 6.2% 6.1% 6.1%


Related Last Previous Unit Reference
Inflation Rate 6.10 6.20 percent Aug 2023
Inflation Rate MoM 0.30 0.30 percent Aug 2023
Consumer Price Index CPI 117.10 116.80 points Jul 2023
Core Inflation Rate 5.50 5.50 percent Aug 2023
Core Consumer Prices 112.30 111.90 points Jul 2023
Producer Prices 147.00 148.60 points Jul 2023
Producer Prices Change -6.00 0.10 percent Jul 2023
Export Prices 122.00 122.40 points Jul 2023
Import Prices 124.10 124.80 points Jul 2023
Food Inflation 10.90 13.40 percent Jul 2023
Services Inflation 5.12 5.22 percent Aug 2023
Saxony CPI YoY 6.80 6.70 percent Aug 2023
North Rhine Westphalia CPI YoY 5.90 5.80 percent Aug 2023
Brandenburg CPI YoY 7.10 6.70 percent Aug 2023
Bavaria CPI YoY 5.90 6.10 percent Aug 2023
Baden Wuerttemberg CPI YoY 7.00 6.80 percent Aug 2023
Energy Inflation 8.32 5.69 percent Aug 2023
Hesse CPI YoY 6.00 6.10 percent Aug 2023
Producer Price Inflation MoM -1.10 -0.30 percent Jul 2023
Wholesale Prices 132.50 132.80 points Jul 2023
CPI Transportation 124.30 122.90 points Jul 2023
CPI Housing Utilities 114.60 114.50 points Jul 2023

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
6.10 6.20 11.70 -7.62 1950 - 2023 percent Monthly

News Stream
German Inflation Rate Cools Less than Forecast
The German consumer price inflation rate moderated to 6.1 percent year-on-year in August 2023, a marginal decline from 6.2 percent in the previous month and slightly above market expectations of 6.0 percent, a preliminary estimate showed. Despite matching the 14-month low recorded in May, the rate still remained well above the European Central Bank's target of 2.0 percent. Notably, the core rate, excluding volatile items like food and energy, was unchanged at 5.5 percent. Services inflation eased to 5.1 percent from July's 5.2 percent, while the goods rate picked up to 7.1 percent from 7.0 percent due to an acceleration in energy cost. Food prices, on other hand, rose at a slower pace. On a monthly basis, consumer prices advanced by 0.3 percent in August, the same pace as in the previous period.
2023-08-30
German Inflation Rate Confirmed at 6.2%
The annual inflation rate in Germany was confirmed at 6.2% in July 2023, down from 6.4% in June, and remaining close to May’s 14-month low of 6.1% and the core rate, which excludes volatile items such as food and energy, also eased to 5.5%, adding to signs that inflationary pressures in the country were starting to cool. However, both rates remained well above the European Central Bank's target of 2.0%. The overall inflation for goods slowed to 7.0% from 7.3%, due to softer rises in the cost of food (11.0% vs 13.7%), led by sugar, jam, honey, and other confectionery (18.9% vs 19.4%). Also, services inflation eased slightly (5.2% vs 5.3%), with rent rising by 2.1%. Meanwhile, energy inflation accelerated (5.7% vs. 3.0%), especially for solid fuels (12.8%), natural gas (8.5%), and electricity (17.6%). On a monthly basis, consumer prices were up 0.3% in July, the same pace as in June. The CPI harmonized compared with other European countries, climbed 6.5% on the year, and a 0.5% rise mom.
2023-08-08
German Inflation Rate Eases to 6.2% as Expected
The German consumer price inflation rate slowed to 6.2 percent year-on-year in July 2023, down from 6.4 percent in the previous month and in line with market expectations, a preliminary estimate showed. The rate was close to May's 14-month low of 6.1 percent, and the core rate, which excludes volatile items such as food and energy, also slowed to 5.5 percent, adding to signs that inflationary pressures in Europe's largest economy were starting to cool. However, both rates remained well above the European Central Bank's target of 2.0 percent. Goods inflation eased to 7.0 percent from 7.3 percent, mainly due to a slowdown in food prices (11.0 percent vs. 13.7 percent). Energy inflation, on the other hand, picked up to 5.7 percent from 3.0 percent. Meanwhile, service prices advanced by 5.2 percent in July, little changed from June's 5.3 percent increase. On a monthly basis, consumer prices advanced by 0.3 percent in July, the same pace as in the previous period.
2023-07-28