Deutschland Verbraucherpreise

Germany’s annual consumer price inflation eased to 2.0% in June 2025, down from 2.1% in May and below market expectations of 2.2%, according to a preliminary estimate. This marks the lowest level since October 2024 and brings inflation back in line with the European Central Bank’s target for the first time since then. Service inflation moderated slightly to 3.3% from 3.4% in the previous month, while goods inflation fell to 0.8% from 0.9%. The decline was mainly driven by a slowdown in food inflation (2.0% vs 2.8%) and a drop in energy prices (-3.5% vs -4.6%). Core inflation, which excludes food and energy, dipped to a three-month low of 2.7%. On a monthly basis, consumer prices were flat in June, following a 0.1% increase in May.