Germany Inflation Rate Monthly Analysis: Germany Consumer Price Index (2024)

FAQs

Germany Inflation Rate Monthly Analysis: Germany Consumer Price Index? ›

Germany Consumer Price Index is at a current level of 119.80, up from 119.40 last month and up from 117.10 one year ago. This is a change of 0.34% from last month and 2.31% from one year ago.

On a monthly basis, the level of CPIH was little changed in July 2024, compared with a fall of 0.3% in July 2023. The Consumer Prices Index (CPI) rose by 2.2% in the 12 months to July 2024, up from 2.0% in June 2024.

Basic Info. Germany Inflation Rate is at 2.80%, compared to 2.40% last month and 6.30% last year.

9 August 2024 Inflation rate at +2.3% in July 2024

The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +2.3% in July 2024. The rate of change was +2.2% in June 2024 and +2.4% in May 2024.

Harmonized index of consumer prices (HICP)

The HICP for Germany is derived from the same data base as the German CPI, both concerning the monthly price survey and calculating the detailed expenditure weights contained in the weighting patterns.

Over the last 12 months, the all items index increased 2.9 percent before seasonal adjustment.

The CPI is often used to measure changes in the cost of living, but it is not an ideal indicator of this. While the CPI measures price changes, cost-of-living inflation is the change in spending by households required to maintain a given standard of living.

Harmonised index of consumer prices, June 2024

WIESBADEN – The inflation rate in Germany is expected to be +2.2% in June 2024. It is measured as the change in the consumer price index (CPI) compared with the same month a year earlier.

Consumer Price Index CPI in Germany increased to 119.80 points in July from 119.40 points in June of 2024. Consumer Price Index CPI in Germany averaged 57.36 points from 1950 until 2024, reaching an all time high of 119.80 points in July of 2024 and a record low of 17.50 points in July of 1950.

The decrease in inflation is also set to be slowed down by continued wage growth, which is expected to sustain price pressures in services. Overall, inflation is projected to ease to 2.4% in 2024 and 2.0% in 2025, down from 6.0% in 2023.

What is the monthly CPI in Germany? ›

Germany Consumer Price Index (I:GCPIUM)

Germany Consumer Price Index is at a current level of 119.80, up from 119.40 last month and up from 117.10 one year ago. This is a change of 0.34% from last month and 2.31% from one year ago.

Germany Core Consumer Price Index is at a current level of 115.60, up from 115.20 last month and up from 112.30 one year ago. This is a change of 0.35% from last month and 2.94% from one year ago.

In addition to the HICP , the Federal Statistical Office calculates the national Consumer Price Index ( CPI ). Unlike the HICP , it also includes prices for owner-occupied housing (following the rental equivalence approach), gambling as well as motor vehicle tax and registration fees.

Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.9 percent over the last 12 months to an index level of 314.540 (1982-84=100). For the month, the index increased 0.1 percent prior to seasonal adjustment.

Year-on-year inflation rate based on All India Consumer Price Index (CPI) number is 3.54% (Provisional) for the month of July, 2024. Corresponding inflation rate for rural and urban is 4.10% and 2.98% ,respectively.

On the basis of these inflation forecasts, average consumer price inflation should be 3.2% in 2024 and 2.0% in 2025, compared to 4.06% in 2023 and 9.59% in 2022.