Inflation in Germany in 2024, 2023, inflation rate by year
This page contains information about the inflation rate and consumer price index in Germany now and by year starting from 2014 through to 2024.
§ Current Inflation Level in Germany
The annual inflation rate in Germany for January 2024 was 2.9%. This means that, on average, the prices of all goods and services purchased by private individuals in the Federal Republic of Germany have increased by 2.9% over one year. This information is based on data from the Federal Statistical Office of Germany. Information on the monthly inflation rate can be found in the following table and in Diagram No. 1.
The maximum inflation rate over the past year was recorded in February 2023, at 8.7%. Data from Table 1 provide an overview of the decrease or increase in the pace of inflation.
The current inflation rate in Germany for January 2024 was 2.9 %. Thus, prices in Germany have increased by 2.9 % over one year.
Table 1. Inflation Rate for the Last 12 Months
| Month, Year | Inflation rate | Consumer Price Index |
|---|---|---|
| January 2024 | 2.9 % | 117.6 % |
| December 2023 | 3.7 % | 117.4 % |
| November 2023 | 3.2 % | 117.3 % |
| October 2023 | 3.8 % | 117.8 % |
| September 2023 | 4.5 % | 117.8 % |
| August 2023 | 6.1 % | 117.5 % |
| July 2023 | 6.2 % | 117.1 % |
| June 2023 | 6.4 % | 116.8 % |
| May 2023 | 6.1 % | 116.5 % |
| April 2023 | 7.2 % | 116.6 % |
| March 2023 | 7.4 % | 116.1 % |
| February 2023 | 8.7 % | 115.2 % |
Diagram 1. Current Changes in the Inflation Rate by Month
§ Consumer Price Index in Germany
The Consumer Price Index (CPI) is the average change in prices of all goods and services purchased by private individuals for personal needs. This indicator is measured in Germany as a percentage compared to the base year 2020.
The Consumer Price Index in Germany for January 2024 was 117.6 %. This means that consumer prices for goods and services have decreased on average by 17.6 % compared to the base year 2020.
As shown in Table 1, the current Consumer Price Index for January 2024 is 117.6%. This indicates that compared to the year 2020, prices in Germany for all goods and services used by private individuals (consumers) have changed on average by 17.6%.
The change in the Consumer Price Index over the years can be viewed in the following Table 2.
Learn about how prices for goods and services in Germany have changed: which goods and services have seen the largest price increases, and which have decreased in recent years.
- Price increase in Germany
- Price increase for goods and services in Germany
- Largest price increase
- Price decrease in Germany
§ Inflation in Germany by Years, Price Change Graphs
In the following Table 2, as well as in Diagrams 2 and 3, the change in the inflation rate and the Consumer Price Index in Germany over the past 10 years is presented.
Table 2. Inflation Rate and CPI in Germany by Years
| Year | Consumer Price Index as % to 2020 | Inflation rate to the previous year, as % |
|---|---|---|
| 2014 | 94.0 % | 1.0 % |
| 2015 | 94.5 % | 0.5 % |
| 2016 | 95.0 % | 0.5 % |
| 2017 | 96.4 % | 1.5 % |
| 2018 | 98.1 % | 1.8 % |
| 2019 | 99.5 % | 1.4 % |
| 2020 | 100.0 % | 0.5 % |
| 2021 | 103.1 % | 3.1 % |
| 2022 | 110.2 % | 6.9 % |
| 2023 | 116.7 % | 5.9 % |
| 01.2024 | 117.6 % | 2.9 % |
Chart 2. Change in price level in percentage points
in relation to the previous year
The pattern figures show the prices percentage increase compared to the previous year. For example, in 01.2024, prices changed by 2.9% compared to 2023. The minimum annual price change was 0.5%, the maximum price change amounted to 6.9% for 1 year in the reporting period.
Chart 3. German Consumer Price Index
The pattern shows the change in the price level relative to 2020, taken as a 100% basis. For example, in 01.2024, the price index is 117.6, which means that compared to 2020, prices have changed by 17.6%. The minimum value of the price index totalled 94.0, while the maximum value was 116.7.
Information sources
RU-GELD.DE Team
Last updated:
Inflation in Germany now & by year: rate, consumer price index 2024, 2023
