Germany: Inflation rate from 1984 to 2024
(compared to the previous year)
Inflation rate in Germany 2024
The inflation rate in Germany was 1.93 percent in 2018, expected to reach 2.13 percent by 2024. The current rate meets the European Central Bank’s target rate, which is “below, but close to, 2 percent.” Many central bankers favor inflation between 2 and 3 percent, but Germans in particular would rather risk deflation than too much inflation.

Causes of inflation

Central bankers like low, stable inflation because this is a sign of a growing economy. When the economy grows, workers become more productive and spend more, and prices slowly rise. Monetary policy can cause inflation, but Germany has given this responsibility to the European Central Bank (ECB). Importantly, inflation expectations affect inflation, making it a self-fulfilling prophecy.

The German context

During the eurozone crisis, German politicians were advocating for the ECB to raise interest rates quickly. This would have reduced inflation, possibly causing deflation, but would have presented another hurdle for the struggling Greek economy. This is because of the hyperinflation of the Weimar Republic in the 1920s, when Germans carried their pay home in wheelbarrows because the banknotes had lost so much value. Ever since, Germans often warn that inflation harms pensioners and that personal provisions are necessary in any case. Fortunately for them, this statistic forecasts stable, modest inflation that does not alarm many economists.
Germany: Inflation rate from 1984 to 2024
(compared to the previous year)
Inflation rate compared to previous year
2024*2.13%
2023*2.04%
2022*1.92%
2021*1.7%
2020*1.67%
2019*1.49%
20181.93%
20171.71%
20160.38%
20150.68%
20140.77%
20131.6%
2012 2.15%
2011 2.48%
2010 1.12%
2009 0.25%
2008 2.75%
2007 2.29%
2006 1.79%
2005 1.93%
2004 1.75%
20031.09%
2002 1.31%
2001 1.9%
2000 1.4%
1999 0.68%
1998 0.59%
1997 1.52%
1996 1.27%
1995 1.73%
1994 2.72%
1993 4.48%
1992 5.05%
1991 3.47%
1990 2.69%
1989 2.78%
1988 1.27%
1987 0.24%
1986 -0.13%
1985 2.08%
1984 2.4%
Zoomable Statistic: Select the range in the chart you want to zoom in on.
Loading statistic...
You need to log in to download this statistic
Register for free
Already a member?
Log in
Inflation rate in Germany 2024
The inflation rate in Germany was 1.93 percent in 2018, expected to reach 2.13 percent by 2024. The current rate meets the European Central Bank’s target rate, which is “below, but close to, 2 percent.” Many central bankers favor inflation between 2 and 3 percent, but Germans in particular would rather risk deflation than too much inflation.

Causes of inflation

Central bankers like low, stable inflation because this is a sign of a growing economy. When the economy grows, workers become more productive and spend more, and prices slowly rise. Monetary policy can cause inflation, but Germany has given this responsibility to the European Central Bank (ECB). Importantly, inflation expectations affect inflation, making it a self-fulfilling prophecy.

The German context

During the eurozone crisis, German politicians were advocating for the ECB to raise interest rates quickly. This would have reduced inflation, possibly causing deflation, but would have presented another hurdle for the struggling Greek economy. This is because of the hyperinflation of the Weimar Republic in the 1920s, when Germans carried their pay home in wheelbarrows because the banknotes had lost so much value. Ever since, Germans often warn that inflation harms pensioners and that personal provisions are necessary in any case. Fortunately for them, this statistic forecasts stable, modest inflation that does not alarm many economists.
Statista Accounts: Access All Statistics. Starting from $708 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Premium Account
Your perfect start with Statista
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references

$59 / Month *

Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract.
   Prices do not include sales tax.
Leading companies trust Statista:
paypalgoogleadobepgsamsungtelekom
Related Studies: Available to Download in PDF or PPTX Format
Economic Outlook Germany
Economic Outlook Germany

All Information
in one Presentation

Economic Outlook Germany

Everything On "Economic Outlook Germany" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Other Reports & Dossiers
Statista is a great source of knowledge, and pretty helpful to manage the daily work.
Christof Baron

Christof Baron
CEO, MindShare Germany

Statistics on "Economic Outlook Germany"
  • Key economic indicators
  • Manufacturing
  • Services
  • Retail
Discover Statista
Need help with using Statista for your research? Tutorials and first steps
Do you have any questions about our business solutions?

We provide you with detailed information about our Corporate Account.

Statista Accounts: Access All Statistics. Starting from $708 / Year
Learn more about how Statista can support your business.