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.