Consumer prices in Germany declined 0.2 percent from a year earlier in September 2020, the largest decrease since January 2015, as prices remained under pressure following the government's announcement in July of a VAT rate cut until the end of the year to help Europe's largest economy recover from the coronavirus shock. Goods prices fell 1.7 percent (vs -1.3 percent in August) led by a decline in energy cost (-7.1 percent vs -6.3 percent) and a slowdown in food inflation (0.6 percent vs 0.7 percent). At the same time, service inflation was steady at 1.0 percent, supported by an increase in net rents exclusive of heating expenses. The harmonised index of consumer prices were down 0.4 percent from a year earlier.

Inflation Rate in Germany averaged 2.35 percent from 1950 until 2020, 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 October of 2020. source: Federal Statistical Office

Inflation Rate in Germany is expected to be 0.30 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 1.30 percent in 2021 and 1.60 percent in 2022, according to our econometric models.

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Germany Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.00 11.54 -7.62 1950 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-08-31 12:00 PM Inflation Rate YoY Prel Aug 0.0% -0.1% 0.1% -0.1%
2020-09-11 06:00 AM Inflation Rate YoY Final Aug 0.0% -0.1% 0.0% 0.0%
2020-09-29 12:00 PM Inflation Rate YoY Prel Sep -0.2% 0% -0.1% -0.2%
2020-10-13 06:00 AM Inflation Rate YoY Final Sep -0.2% 0.0% -0.2% -0.2%
2020-10-29 01:00 PM Inflation Rate YoY Prel Oct -0.2% -0.1%
2020-11-12 07:00 AM Inflation Rate YoY Final Oct -0.2%
2020-11-30 01:00 PM Inflation Rate YoY Prel Nov
2020-12-11 07:00 AM Inflation Rate YoY Final Nov


News Stream
German Consumer Prices Drop the Most Since 2015
Consumer prices in Germany declined 0.2 percent from a year earlier in September 2020, the largest decrease since January 2015, as prices remained under pressure following the government's announcement in July of a VAT rate cut until the end of the year to help Europe's largest economy recover from the coronavirus shock. Goods prices fell 1.7 percent (vs -1.3 percent in August) led by a decline in energy cost (-7.1 percent vs -6.3 percent) and a slowdown in food inflation (0.6 percent vs 0.7 percent). At the same time, service inflation was steady at 1.0 percent, supported by an increase in net rents exclusive of heating expenses. The harmonised index of consumer prices were down 0.4 percent from a year earlier.
2020-10-13
German Consumer Prices Fall Most in 5-1/2 Years
Consumer prices in Germany are expected to decrease 0.2 percent from a year earlier in September 2020, the largest decline since January 2015 and compared to market expectations of a 0.1 percent fall, a preliminary estimate showed. Prices have been under pressure following the government's announcement in July of a temporary VAT rate cut until the end of the year as part of a stimulus package to help Europe's largest economy recover from the coronavirus shock. Goods prices should fall 1.7 percent (vs -1.3 percent in August) led by a decline in energy cost (-7.1 percent vs -6.3 percent) and a slowdown in food inflation (0.6 percent vs 0.7 percent). At the same time, service inflation is seen steady at 1.0 percent. On a monthly basis, consumer prices are expected to drop 0.2 percent.
2020-09-29
German Consumer Prices Unchanged in August
Consumer prices in German were unchanged from a year earlier in August 2020, after a 0.1 percent fall in the previous month and matching preliminary estimates. Services inflation slowed to 1.0 percent from 1.2 percent in July, led by growing rent prices (1.4 percent), while goods prices dropped 1.3 percent (vs -1.4 percent in July) due to a fall in energy prices (-6.3 percent vs -6.7 percent) and a slowdown in food inflation (0.7 percent vs 1.2 percent). The harmonised index of consumer prices edged down 0.1 percent from a year earlier and by 0.2 percent fall from the previous month. The government announced in July a VAT cut until the end of the year as part of a stimulus package to help Europe's largest economy recover from the coronavirus shock.
2020-09-11
Germany CPI Unchanged in August, Misses Expectations
Germany's consumer prices are expected to remain unchanged year-on-year in August 2020, following a 0.1 percent decline in the previous month and missing market expectations of a 0.1 percent rise, a preliminary estimate showed. The government announced in July a VAT cut until the end of the year as part of a stimulus package to help Europe's largest economy recover from the coronavirus shock. Services inflation should ease to 1.0 percent from 1.2 percent in July, while goods prices are likely to fall 1.3 percent (vs -1.4 percent in July) led by a decrease in energy prices (-6.3 percent vs -6.7 percent) and a slowdown in food inflation (0.7 percent vs 1.2 percent). On a monthly basis, consumer prices are expected to fall 0.1 percent, following a 0.5 percent drop in July.
2020-08-31

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.