Germany Inflation Rate

The annual inflation rate in Germany was confirmed at 7.4% in April of 2022, and accelerating from 7.3% in the previous month. It was the second straight month of record high inflation since the reunification while also marking the fastest pace in consumer prices since at least 1981, mainly boosted by rises in prices of energy (35.3% vs 39.5%) and food (8.6% vs 6.2%). The prices of energy products rose sharply, especially for heating oil (98.6%), motor fuels (38.5%), and natural gas (47.5%), reflecting the impact of Russia’ invasion on Ukraine. At the same time, cost of services rose faster (3.2 percent vs 2.8 percent), led by a 1.6% gain in rent prices. On a monthly basis, consumer prices went up 0.8 percent, easing from a 2.5 percent gain in March, which was the highest reading since October 1951. The CPI, harmonized to compare with other European countries, was up 7.8 percent on the year and rose 0.7 percent month-on-month.