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Anzo Lim

German Inflation Data Continued to Drop

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According to the data recently released by the Federal Statistical Office of Germany, the country’s annual inflation rate in 2019 dropped to 1.4%, lower than the 1.9% of 2018 and 1.8% in 2017. Statistics suggest Germanys inflation in December, 2019 sat at 1.5%, and the monthly inflation figure excluding energy price was 1.8%. Food price rose 2.1% year-on-year, with a significant increase in the price of meat and meat products.

The European Central Bank set the inflation target range at slightly lower than 2%, but ever since 2019, even Germany,the largest economy of the Eurozone, had failed to meet the 2% inflation target except in April, 2019. An inflation constantly under target level will affect business investment and private consumption, thus stunting economic growth.

In order to tackle risks of deflation and boost economic recovery of the Eurozone, the ECB continues to ease monetary policies. But the latest inflation data in Germany shows that the ECBs easing policies havent been very efficient in boosting inflation. German Council of Economic Experts previously estimated that Germanys inflation in 2020 will be around 1.6%.  

Edited by Anzo Lim

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