Germany Inflation Rate

Last Release

Mar 31, 2024

Actual

2.2

Units In

2.5

Frequency

Monthly

Next Release

Apr 29, 2024

Time to Release

17 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
11.54 Oct 1951	-7.62 Jun 1950	2.48 %	1950-2024	Federal Statistical Office

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.

Latest Updates

Germany’s consumer prices inflation was confirmed at 2.2% in March 2024, down from 2.5% in the previous month. It was the lowest rate since May 2021, nearing the European Central Bank’s target of 2.0%. Food prices declined for the first time since February 2015 (-0.7% vs 0.9% in February), while the ongoing deflation for energy accelerated (-2.7% vs -2.4%). Furthermore, the goods inflation eased sharply to 1.0% compared to 1.8% in February. On the other hand, the services inflation rose faster to 3.7% from 3.4% previously. Core inflation, excluding volatile items like food and energy, edged down to 3.3% in March, its lowest level since June 2022. Monthly, the CPI grew 0.4%, the same pace as in the prior period. Meanwhile, the EU-harmonized rate fell to 2.3%, the lowest level in nearly three years and slightly below the market estimates of 2.4%