Germany's annual inflation rate was confirmed at 2.6% in December 2024, marking the third consecutive month of acceleration, up from 2.2% in November.
Germany inflation rises to 2.6% in December
This was the highest inflation rate since January, driven by a faster rise in prices for services (4.1% vs. 4% in November) and food (2% vs. 1.8%), while energy prices saw a smaller decline (-1.6% vs. -3.7%). Every month, the CPI increased by 0.5%, rebounding from a 0.2% drop in November and revised from the preliminary estimate of a 0.4% gain. The average annual inflation rate for the entire year was 2.2%, down from 5.9% in 2023. Core inflation, excluding food and energy, stood at 3% for 2024, compared to 5.1% in the previous year.
EU-harmonized inflation up 2.8% in December
Meanwhile, the EU-harmonized inflation rate rose 2.8% year-over-year, which aligns with initial estimates. Every month, harmonized consumer prices increased by 0.7%, reversing a 0.2% decline from the previous month, matching preliminary data.
