2025年5月,德国消费者价格通胀率为2.1%,与初步估计一致,与上月持平,仍处于2024年10月以来的最低水平。商品通胀加速(4月份为0.9%对0.5%),食品价格保持高位(2.8%),主要原因是水果(7.4%)、糖和糖果(6.6%)、食用脂肪和油(4.7%)以及乳制品和鸡蛋(4.6%)的强劲上涨。能源价格继续下跌,但速度较慢(-4.6%对-5.4%),其中燃料(-6.8%)、电力(-2.4%)和取暖油(-9.5%)下跌最为明显。相比之下,由于国际航班(-8.7%)和电信(-1.3%)成本下降,服务通胀有所缓解(3.4%对3.9%)。不包括食品和能源的核心通胀率从2.9%小幅降至2.8%。每月,消费者价格指数上涨0.1%,较4月份的0.4%大幅下降。欧盟协调通胀率同比降至2.1%(对2.2%),环比降至0.1%(对0.5%)。
Germany’s consumer price inflation stood at 2.1% in May 2025, in line with flash estimates and unchanged from the previous month, remaining at its lowest level since October 2024. Inflation in goods accelerated (0.9% vs 0.5% in April), with food prices staying elevated (at 2.8%), driven by strong rises in fruit (7.4%), sugar and confectionery (6.6%), edible fats and oils (4.7%), and dairy products and eggs (4.6%). Energy prices continued to fall, though at a slower pace (-4.6% vs -5.4%), led by drops in fuel (-6.8%), electricity (-2.4%), and heating oil (-9.5%). In contrast, service inflation eased (3.4% vs 3.9%), weighed by lower costs for international flights (-8.7%) and telecommunications (-1.3%). Core inflation, which excludes food and energy, edged down to 2.8% from 2.9%. Monthly, consumer prices rose 0.1%, sharply down from April’s 0.4%. The EU-harmonised inflation rate eased to 2.1% yoy (vs 2.2%) and 0.1% mom (vs 0.5%).