Annual inflation rate in Germany edged up to 2.4% in May 2024, compared to a three-year low of 2.2% in each of the previous two months, and in line with expectations, preliminary estimates showed. Inflation rose for the first time in five months, with prices accelerating for services (3.9% vs 3.4% in April) and food (0.6% vs 0.5%) while goods cost eased (1% vs 1.2%). Also, energy prices continued to fall (-1.1% vs -1.2%), despite the discontinuation of the brake on energy prices and the simultaneous introduction of a higher carbon price at the beginning of 2024, and the end of the temporary VAT reduction for gas and district heating in April 2024. Excluding food and energy, core inflation held steady at 3%. Compared to the previous month, the CPI edged up 0.1%. Considering the EU-harmonised, the annual inflation rate went up to 2.8%, the highest in four months, compared to 2.4% in April and forecasts of 2.7%. source: Federal Statistical Office

Inflation Rate in Germany increased to 2.40 percent in May from 2.20 percent in April of 2024. Inflation Rate in Germany averaged 2.50 percent from 1950 until 2024, 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 June of 2024.

Inflation Rate in Germany increased to 2.40 percent in May from 2.20 percent in April of 2024. Inflation Rate in Germany is expected to be 2.50 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 2.10 percent in 2025 and 1.90 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-05-14 06:00 AM Inflation Rate YoY Final Apr 2.2% 2.2% 2.2% 2.2%
2024-05-29 12:00 PM Inflation Rate YoY Prel May 2.4% 2.2% 2.4% 2.5%
2024-06-12 06:00 AM Inflation Rate YoY Final May 2.2% 2.4% 2.4%

Components Last Previous Unit Reference
Baden Wuerttemberg CPI YoY 2.10 2.10 percent May 2024
Bavaria CPI MoM 2.70 2.50 percent May 2024
Brandenburg CPI YoY 2.90 3.00 percent May 2024
Energy Inflation -1.10 -1.20 percent May 2024
Food Inflation 1.07 0.15 percent Apr 2024
Hesse CPI YoY 1.90 1.90 percent May 2024
North Rhine Westphalia CPI YoY 2.50 2.30 percent May 2024
Saxony CPI YoY 3.10 2.70 percent May 2024
Services Inflation 3.90 3.40 percent May 2024

Related Last Previous Unit Reference
CPI 119.20 118.60 points Apr 2024
Core Consumer Prices 114.60 114.30 points Apr 2024
Core Inflation Rate 3.00 3.00 percent May 2024
CPI Housing Utilities 115.90 115.30 points Apr 2024
CPI Transportation 125.70 125.10 points Apr 2024
Export Prices 113.90 113.80 points Mar 2024
Harmonised Consumer Prices 128.80 128.00 points Apr 2024
Harmonised Inflation Rate MoM 0.20 0.60 percent May 2024
Harmonised Inflation Rate YoY 2.80 2.40 percent May 2024
Import Prices 112.70 111.90 points Apr 2024
Inflation Rate YoY 2.40 2.20 percent May 2024
Inflation Rate MoM 0.10 0.50 percent May 2024
PPI MoM 0.20 0.20 percent Apr 2024
Producer Prices 127.50 127.30 points Apr 2024
PPI YoY -3.30 -2.90 percent Apr 2024
Wholesale Prices 116.90 116.40 points Apr 2024

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
2.40 2.20 11.70 -7.62 1950 - 2024 percent Monthly


News Stream
Germany Inflation Rate Rises to 2.4% as Expected
Annual inflation rate in Germany edged up to 2.4% in May 2024, compared to a three-year low of 2.2% in each of the previous two months, and in line with expectations, preliminary estimates showed. Inflation rose for the first time in five months, with prices accelerating for services (3.9% vs 3.4% in April) and food (0.6% vs 0.5%) while goods cost eased (1% vs 1.2%). Also, energy prices continued to fall (-1.1% vs -1.2%), despite the discontinuation of the brake on energy prices and the simultaneous introduction of a higher carbon price at the beginning of 2024, and the end of the temporary VAT reduction for gas and district heating in April 2024. Excluding food and energy, core inflation held steady at 3%. Compared to the previous month, the CPI edged up 0.1%. Considering the EU-harmonised, the annual inflation rate went up to 2.8%, the highest in four months, compared to 2.4% in April and forecasts of 2.7%.
2024-05-29
German April Inflation Rate Confirmed at 2.2%
Germany’s consumer prices inflation was confirmed at 2.2% in April 2024, unchanged from a nearly three-year-low in the previous month, nearing the European Central Bank’s target of 2.0%. A slowdown in services inflation (3.4% vs 3.7% in March) was offset by a rebound in food prices (0.5% vs -0.7%) and a smaller decrease in energy costs (-1.2% vs -2.7%) due to the end of a temporary tax cut on natural gas this month. Core inflation, excluding volatile items like food and energy, declined to 3.0% in April, its lowest level since March 2022. Monthly, the CPI rose 0.5%, the most in 13 months, after a 0.4% gain in March. Meanwhile, the EU-harmonized rate edged higher to 2.4%, up from March's near three-year low of 2.3%.
2024-05-14
Germany's Inflation Rate Decline Hits a Stall
Germany's consumer price inflation stood at 2.2% in April 2024, holding steady at its lowest level since May 2021 and slightly below market forecasts of 2.3%, a preliminary estimate showed. A slowdown in services inflation (3.4% vs 3.7% in March) was offset by a rebound in food prices (0.5% vs -0.7%) and a smaller decline in energy costs (-1.2% vs -2.7%) due to the end of a temporary tax cut on natural gas this month. Meanwhile, the EU-harmonized rate edged higher to 2.4%, up from March's near three-year low of 2.3%, slightly surpassing the market consensus of 2.3%. Core inflation, excluding volatile items like food and energy, dipped to 3.0% in April, its lowest level since March 2022.
2024-04-29