Inflation rate Germany 2024

For 2023, economic experts predict a 8.8 percent inflation rate growth in Germany. The rising consumer prices were triggered by the Russia-Ukraine war with growing uncertainties and rising price developments in the energy sector. An inflation rate of 2.2 percent is forecast for 2024.

Year-on-year change of the inflation rate in Germany from 2008 to 2021, with a forecast until 2024

Characteristic	Inflation rate compared to previous year
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Release date

September 2022

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Region

Germany

Survey time period

2008 to 2022

Supplementary notes

Joint report from leading economic research institutes.

The joint report (Gemeinschaftsdiagnose) is an expert assessment of the global, European and German economic climate, which is created by a project group on behalf of the formerly Federal Ministry for Economic Affairs and Technology (currently Federal Ministry for Economic Affairs and Climate Action). The joint report group currently includes the ifo Institute for economic research at the University of Munich, in cooperation with the KOF economic climate research center at the ETH Zurich, the German Institute for Economic Research (DIW), the Leibniz Institute for Economic Research in Halle, the Kiel Institute for the World Economy and the RWI Leibniz Institute for Economic Research in cooperation with the Institute for Advanced Studies in Vienna.

Figures preceding 2020 are based on data from the Federal Statistics Office.

Harmonized consumer price index (2010 = 100).

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