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%. source: Federal Statistical Office

Inflation Rate in Germany decreased to 2.20 percent in March from 2.50 percent in February 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 April of 2024.

Inflation Rate in Germany decreased to 2.20 percent in March from 2.50 percent in February 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
2024-04-02 12:00 PM Inflation Rate YoY Prel Mar 2.2% 2.5% 2.2% 2.4%
2024-04-12 06:00 AM Inflation Rate YoY Final Mar 2.2% 2.5% 2.2% 2.2%
2024-04-29 12:00 PM Inflation Rate YoY Prel Apr 2.2% 2.3%

Components Last Unit Reference
Baden Wuerttemberg CPI YoY 2.30 percent Mar 2024
Bavaria CPI MoM 2.30 percent Mar 2024
Brandenburg CPI YoY 2.80 percent Mar 2024
Energy Inflation -2.70 percent Mar 2024
Food Inflation 0.15 percent Mar 2024
Hesse CPI YoY 1.60 percent Mar 2024
North Rhine Westphalia CPI YoY 2.30 percent Mar 2024
Saxony CPI YoY 2.50 percent Mar 2024
Services Inflation 3.68 percent Mar 2024

Related Last Unit Reference
CPI 118.60 points Mar 2024
Core Consumer Prices 114.30 points Mar 2024
Core Inflation Rate 3.30 percent Mar 2024
CPI Housing Utilities 115.30 points Mar 2024
CPI Transportation 125.10 points Mar 2024
Export Prices 113.80 points Feb 2024
Import Prices 111.50 points Feb 2024
Inflation Rate YoY 2.20 percent Mar 2024
Inflation Rate MoM 0.40 percent Mar 2024
PPI MoM 0.20 percent Mar 2024
Producer Prices 127.30 points Mar 2024
PPI YoY -2.90 percent Mar 2024
Wholesale Prices 131.20 points Mar 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
2.20 2.50 11.70 -7.62 1950 - 2024 percent Monthly

News Stream
German Inflation Rate Confirmed at Near 3-Year Low
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%
2024-04-12
German Inflation Rate Falls to Near 3-Year Low
Germany's consumer price inflation dipped to 2.2% in March 2024 from 2.5% in the previous month, aligning with market forecasts, a preliminary estimate showed. It was the lowest rate since May 2021, moving closer to the European Central Bank's target of 2.0%. Additionally, the EU-harmonized rate also declined to 2.3%, the lowest level in nearly three years and slightly below the market consensus of 2.4%. The goods inflation slowed sharply to 1.0% from February's 1.8%, as energy cost decreased at a faster pace (-2.7% vs -2.4%) and food prices fell for the first time since February 2015 (-0.7 vs 0.9%). Meanwhile, the services inflation picked up to 3.7% from 3.4%. Core inflation, excluding volatile items like food and energy, edged down to 3.3% in March, its lowest level since June 2022.
2024-04-02
German Inflation Rate Confirmed at Over 2-½ Year Low
German consumer price inflation was confirmed at 2.5% year-on-year in February 2024, the lowest rate since June 2021 and nearing the European Central Bank’s target of 2.0%. The primary downward pressure came from a sharp slowdown in food inflation (0.9% vs 3.8% in January), due to lower prices of fresh vegetables (-10.6%), and dairy products (-5.1%). Additionally, costs continued to decline for energy (-2.4% vs -2.8%), despite the discontinuation of the brake on energy prices and the introduction of higher carbon costs. Meanwhile, the services inflation held steady at 3.4%. Core inflation, which excludes volatile items such as food and energy, was unchanged at 3.4%, remaining at its lowest level since July 2022. On a monthly basis, consumer prices increased 0.4%, in line with market forecasts and up from January’s 0.2% rise.
2024-03-12