Consumer prices in Germany fell 0.3% year-on-year in November of 2020, the most since January of 2015 and in line with preliminary figures. It was the fourth month of deflation so far this year due to the temporary VAT reduction from July 1st 2020 and until the end of the year as part of a stimulus package to help the economy recover from the coronavirus shock. Prices of goods went down 1.8% mainly due to energy (-7.7%), consumer durables such as telephones (-6.7%) and consumer electronics (-4.5%). Excluding energy products, the inflation rate would have been 0.6%. Upward pressure came from the cost of food (1.4%) namely meat and fruit, and services (1.1%) mainly heating expenses (1.4%). Compared with October, consumer prices went down 0.8%, the biggest fall in a year. source: Federal Statistical Office
Inflation Rate in Germany averaged 2.34 percent from 1950 until 2020, reaching an all time high of 11.54 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 December of 2020.
Inflation Rate in Germany is expected to be 0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Germany to stand at 1.20 in 12 months time. In the long-term, the Germany Inflation Rate is projected to trend around 1.30 percent in 2021 and 1.60 percent in 2022, according to our econometric models.