What is Germany inflation rate?

Inflation Rate in Germany decreased to 2.90 percent in January from 3.70 percent in December of 2023. 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.

What was the inflation rate in Germany in 2023?

WIESBADEN – Consumer prices in Germany rose by 5.9% in 2023 on an annual average basis compared with 2022. The Federal Statistical Office (Destatis) reports that the rate of inflation for 2023 was therefore lower compared with a year earlier. In 2022, it stood at +6.9%. "The rate of inflation for 2023 was below 2022's record high.

Is inflation running red hot in Germany?

“Inflation is running red hot in Germany,” said Carsten Brzeski, an economist at Dutch bank ING, adding that it was “hard to see” how the European Central Bank could not raise interest rates by 0.75 percentage points for a third consecutive time at next month’s meeting.

How much did consumer prices increase in Germany in 2022?

Consumer prices in Germany rose by 7.9% in 2022 on an annual average compared with 2021. The Federal Statistical Office (Destatis) reports that the year-on-year rate of price increase thus was markedly higher than in the previous years. In 2021, it had been +3.1%.