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. 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 1.70 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 1.70 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

Germany Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-31 12:00 PM Inflation Rate YoY Prel May 1.4% 2% 1.6% 1.5%
2019-06-13 06:00 AM Inflation Rate YoY Final May 1.4% 2% 1.4% 1.4%
2019-06-27 12:00 PM Inflation Rate YoY Prel Jun 1.6% 1.4% 1.4% 1.4%
2019-07-11 06:00 AM Inflation Rate YoY Final Jun 1.6% 1.4% 1.6% 1.6%
2019-07-30 12:00 PM Inflation Rate YoY Prel Jul 1.6% 1.5%
2019-08-13 06:00 AM Inflation Rate YoY Final Jul 1.6%
2019-08-29 12:00 PM Inflation Rate YoY Prel Aug



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.

Services inflation accelerated to 1.9 percent in June from 1.2 percent in May. This was mainly attributable to the increase in package holiday prices (6.1 percent). Also, price increases were observed  for services of social facilities (5.2 percent), maintenance and repair of vehicles (4.7 percent) and rail tickets (3.6 percent). Another major factor contributing to the development of service prices was the increase in net rents exclusive of heating expenses (1.4 percent), as households spend a large part of their consumption expenditure on this item. In contrast, an unusually large price decrease was recorded for pre-primary education services (-12.2 percent), which was due especially to the reduction of childcare costs in some Länder.

Goods prices increased 1.5 percent in June, slower than 1.8 percent in the prior month, as a slowdown in energy inflation offset a pick up in food inflation. Gains were also recorded for other goods such as newspapers and periodicals (4.6 percent) and tobacco products (3.4 percent). However, prices were down for some goods such as telephones (-6.9 percent) and consumer electronics (-6.1 percent).
 
Food costs increased 1.2 percent, compared to a 0.9 percent rise in May, as vegetable prices increased substantially (9.6 percent). Price rises were also recorded for fish, fish products and seafood (3.0 percent), meat and meat products (2.8 percent), and bread and cereals (2.2 percent). In contrast, prices fell considerably for edible fats and oils (-9.3 percent) and fruit (-6.1 percent).
 
Meanwhile, energy inflation eased to 2.5 percent from 4.2 percent in May. The prices of district heating (5.6 percent), natural gas (4.1 percent), electricity (3.4 percent), and motor fuel (1.2 percent) were higher, while heating oil prices dropped 3.5 percent.

On a monthly basis, the consumer price index rose 0.3 percent in June, accelerating from a 0.2 percent gain in May. This was mainly due to prices of package holidays (18.6 percent). Prices were also up for air tickets (2.6 percent), including international flight (2.9 percent), rail tickets (1.6 percent) and accommodation (0.9 percent). Meantime, food prices remained nearly unchanged (0.1 percent), while energy costs were down 1.1 percent. Consumers also benefited from lower clothing and footwear prices (-1.7 percent), which was partly due to first discounts given on spring and summer articles.

The harmonised index of consumer prices went up 1.5 percent from the previous year (vs preliminary 1.3 percent and May's final 1.3 percent); and 0.3 percent month-over-month (vs preliminary 0.1 percent and May's 0.3 percent).


Federal Statistical Office | Chusnul Ch Manan | chusnul@tradingeconomics.com
7/11/2019 7:35:39 AM



Germany Prices Last Previous Highest Lowest Unit
Inflation Rate 1.60 1.40 11.54 -7.62 percent [+]
Inflation Rate Mom 0.30 0.20 2.65 -2.73 percent [+]
Consumer Price Index CPI 105.70 105.40 107.00 20.50 Index Points [+]
Harmonised Consumer Prices 106.00 105.70 106.00 75.50 Index Points [+]
Core Consumer Prices 105.70 105.20 105.90 69.80 Index Points [+]
Core Inflation Rate 1.60 1.30 6.29 0.19 percent [+]
Producer Prices 104.90 105.30 105.40 25.50 Index Points [+]
Producer Prices Change 1.20 1.90 22.40 -7.80 percent [+]
Export Prices 102.40 102.60 102.60 36.20 Index Points [+]
Import Prices 102.70 102.80 109.20 40.80 Index Points [+]
Food Inflation 1.00 0.80 8.22 -3.09 percent [+]
Wholesale Prices 105.50 106.00 106.50 97.30 Index Points [+]
CPI Housing Utilities 104.80 104.90 108.70 57.60 Index Points [+]
CPI Transportation 107.60 108.00 109.50 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.60 1.40 11.54 -7.62 1950 - 2019 percent Monthly




Country Last Previous
Argentina 55.80 Jun/19
Australia 1.30 Mar/19
Brazil 3.37 Jun/19
Canada 2.00 Jun/19
China 2.70 Jun/19
Euro Area 1.30 Jun/19
France 1.20 Jun/19
Germany 1.60 Jun/19
India 3.18 Jun/19
Indonesia 3.28 Jun/19
Italy 0.70 Jun/19
Japan 0.70 Jun/19
Mexico 3.95 Jun/19
Netherlands 2.70 Jun/19
Russia 4.70 Jun/19
Saudi Arabia -1.50 May/19
Singapore 0.90 May/19
South Africa 4.50 May/19
South Korea 0.70 Jun/19
Spain 0.40 Jun/19
Switzerland 0.60 Jun/19
Turkey 15.72 Jun/19
United Kingdom 2.00 Jun/19
United States 1.60 Jun/19


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