Inflation Germany 2024
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in January at 2.9%. The lowest inflation was in September at 1.6%.
- Highest month
- January: 2.9%
- Lowest month
- September: 1.6%
- Difference
- 1.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Miscellaneous goods and services with an average of 6.4%. The lowest price increase was in Communication with an average of -0.7%.
- Highest increase
- Miscellaneous goods and services: 6.4%
- Lowest increase
- Communication: -0.7%
Historical Context
Current inflation is 1.4% lower than the 5-year average of 3.7%.
- 5-year average
- 3.7%
- 10-year average
- 2.4%
- All-time high (2022)
- 6.9%
- All-time low (2020)
- 0.2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +3.7 percentage point.
- Change vs. previous year
- -3.7 percentage points
- Largest monthly swing
- February: -6.2 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 2.9% | -5.8 |
| February | 2.5% | -6.2 |
| March | 2.2% | -5.2 |
| April | 2.2% | -5.0 |
| May | 2.4% | -3.7 |
| June | 2.2% | -4.2 |
| July | 2.3% | -3.9 |
| August | 1.9% | -4.2 |
| September | 1.6% | -2.9 |
| October | 2.0% | -1.8 |
| November | 2.2% | -1.0 |
| December | 2.6% | -1.1 |
| Average | 2.3% |
Data source
Data from OECD. Last updated: 13/01/2026.