The inflation rate in Germany was confirmed at 1.4 percent year-on-year in August 2019, down from 1.7 percent in the previous month. This was the lowest inflation rate since May, mainly due to a sharp slowdown in energy prices. Inflation Rate in Germany averaged 2.37 percent from 1950 until 2019, 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.

Inflation Rate in Germany is expected to be 1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Germany to stand at 1.20 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.50 percent in 2020, according to our econometric models.

Germany Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-30 12:00 PM Inflation Rate YoY Prel Jul 1.7% 1.6% 1.5% 1.5%
2019-08-13 06:00 AM Inflation Rate YoY Final Jul 1.7% 1.6% 1.7% 1.7%
2019-08-29 12:00 PM Inflation Rate YoY Prel Aug 1.4% 1.7% 1.5% 1.6%
2019-09-12 06:00 AM Inflation Rate YoY Final Aug 1.4% 1.7% 1.4% 1.4%
2019-09-30 12:00 PM Inflation Rate YoY Prel Sep 1.4% 1.4%
2019-10-11 06:00 AM Inflation Rate YoY Final Sep 1.4%
2019-10-30 01:00 PM Inflation Rate YoY Prel Oct



German August Inflation Rate Confirmed at 1.4%

The inflation rate in Germany was confirmed at 1.4 percent year-on-year in August 2019, down from 1.7 percent in the previous month. This was the lowest inflation rate since May.

Goods prices were 1.3 percent higher in August (vs 1.8 percent in July), mainly due to a slowdown in energy inflation while food costs rose faster. Also, prices were markedly up for newspapers and periodicals (5.3 percent), tobacco products (3.3 percent) and new passenger cars (2.4 percent). However, prices of other goods were down, in particular those of information processing equipment (-7.7 percent) and telephones (-7.1 percent).

Energy inflation eased to 0.6 percent in August from 2.4 percent in July. There were increases in prices of district heating (4.7 percent), natural gas (4.6 percent), and electricity (3.8 percent), while costs fell for heating oil (-5.2 percent), and motor fuels (-3.3 percent).

Food costs increased 2.7 percent, faster than a 2.1 percent rise a month earlier, amid a jump in vegetable prices (12.8 percent). Also, price rises were seen for meat and meat products (4.3 percent) and fish, fish products and seafood (4 percent). In contrast, prices dropped for edible fats and oils (-8.9 percent) and fruit (-2.6 percent).

Services prices grew 1.6 percent in August, compared to 1.5 percent in July. This was mainly attributable to the increase in net rents exclusive of heating expanses (1.4 percent), as household spend a large part of their consumption expenditure on this item. Also, price increases were observed for services of social facilities (5.7 percent), maintenance and repair of vehicles (4.8 percent) and catering services in restaurants, cafes and the like (2.7 percent). In addition, cost of many services which are of comparatively little importance for consumption went up sharply, including coaches (18.5 percent), postal services (10.6 percent), and bank charges (4.1 percent). By contrast, prices of telecommunication services fell 0.7 percent.

On a monthly basis, the consumer price index fell 0.2 percent in August, the first monthly decline in seven months. Energy prices were down 1 percent, led by motor fuels (-2.4 percent) and heating oil (-2.0 percent). Also, there were sizeable price decreases in the education sector for pre-primary and primary education services (-3.0 percent) and for package holidays (-2.5 percent).

The harmonised index of consumer prices rose 1 percent from the previous year (vs 1.1 percent in July); but fell 0.1 percent month-over-month (vs 0.4 percent in July).


Destatis | Rida Husna | rida@tradingeconomics.com
9/12/2019 8:57:19 AM


News

German Inflation Rate Falls More than Expected
The inflation rate in Germany is expected to ease to 1.4 percent year-on-year in August 2019 from a three-month high of 1.7 percent in the previous month, missing market expectations of 1.5 percent, a preliminary estimate showed.
Published on 2019-08-29

German July Inflation Rate Confirmed at 1.7%
The inflation rate in Germany was confirmed at 1.7 percent year-on-year in July 2019, up from 1.6 percent in the previous month, as food prices increased faster while both energy and services inflation eased.
Published on 2019-08-13

German Inflation Rate Beats Forecasts
The inflation rate in Germany is expected to rise to 1.7 percent year-on-year in July 2019 from 1.6 percent in the previous month and above market expectations of 1.5 percent, a preliminary estimate showed.
Published on 2019-07-30

German June Inflation Rate Confirmed at 1.6%
The inflation rate in Germany was confirmed at 1.6 percent year-on-year in June 2019, up from 1.4 percent in the previous month, as both services and food prices rose at a faster pace while energy inflation eased.
Published on 2019-07-11



Germany Prices Last Previous Highest Lowest Unit
Inflation Rate 1.40 1.70 11.54 -7.62 percent [+]
Inflation Rate Mom -0.20 0.50 2.65 -2.73 percent [+]
Consumer Price Index CPI 106.00 106.20 107.00 20.50 Index Points [+]
Harmonised Consumer Prices 106.30 106.40 106.40 75.50 Index Points [+]
Core Consumer Prices 106.20 106.30 106.30 69.80 Index Points [+]
Core Inflation Rate 1.40 1.60 6.29 0.19 percent [+]
Producer Prices 105.00 104.90 105.40 25.50 Index Points [+]
Producer Prices Change 1.10 1.20 22.40 -7.80 percent [+]
Export Prices 102.40 102.30 102.60 36.20 Index Points [+]
Import Prices 101.10 101.30 109.20 40.80 Index Points [+]
Food Inflation 2.30 1.80 8.22 -3.09 percent [+]
Wholesale Prices 104.40 105.20 106.50 97.30 Index Points [+]
CPI Housing Utilities 105.00 105.00 108.70 57.60 Index Points [+]
CPI Transportation 107.00 107.60 109.50 57.30 Index Points [+]


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. . 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.70 11.54 -7.62 1950 - 2019 percent Monthly




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 1.90 Aug/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.40 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.30 Aug/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 1.70 Aug/19
United States 1.70 Aug/19


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