Germany’s annual inflation rate rose to 2.1% in January 2026, up from December’s 15-month low of 1.8% and slightly above market expectations of 2.0%, according to a preliminary estimate. The harmonized index of consumer prices (HICP), the measure closely watched by the ECB, also increased to 2.1%, leaving both readings near the central bank’s 2% target. Goods inflation accelerated to 1.0% from 0.4%, largely reflecting a sharp rise in food prices (2.1% vs 0.8%). This came despite a deeper decline in energy costs (-1.7% vs -1.3%). Meanwhile, services inflation eased to 3.2% from 3.5%, offering some relief on underlying price pressures. Core inflation, which strips out food and energy, ticked up to 2.5% from 2.4%, after hitting its lowest level in more than four years in December. source: Federal Statistical Office

Inflation Rate in Germany increased to 2.10 percent in January from 1.80 percent in December of 2025. Inflation Rate in Germany averaged 2.49 percent from 1950 until 2026, reaching an all time high of 11.70 percent in October of 1951 and a record low of -7.62 percent in June of 1950. This page provides the latest reported value for - Germany Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

Inflation Rate in Germany increased to 2.10 percent in January from 1.80 percent in December of 2025. Inflation Rate in Germany is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Inflation Rate is projected to trend around 2.10 percent in 2027 and 1.90 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-16 07:00 AM
Inflation Rate YoY Final
Dec 1.8% 2.3% 1.8% 1.8%
2026-01-30 01:00 PM
Inflation Rate YoY Prel
Jan 2.1% 1.8% 2% 1.9%
2026-02-17 07:00 AM
Inflation Rate YoY Final
Jan 1.8% 2.1% 2.1%

Components Last Previous Unit Reference
Baden Wuerttemberg CPI YoY 2.10 1.90 percent Jan 2026
Bavaria CPI MoM 2.10 1.70 percent Jan 2026
Brandenburg CPI YoY 2.20 2.20 percent Jan 2026
Core Inflation Rate 2.50 2.40 percent Jan 2026
Energy Inflation -1.70 -1.30 percent Jan 2026
Food Inflation 1.40 1.80 percent Dec 2025
Hesse CPI YoY 2.10 2.20 percent Jan 2026
North Rhine Westphalia CPI YoY 2.00 1.80 percent Jan 2026
PPI YoY -2.50 -2.30 percent Dec 2025
Saxony CPI YoY 2.30 1.90 percent Jan 2026
Services Inflation 3.20 3.50 percent Jan 2026

Related Last Previous Unit Reference
CPI 122.80 122.70 points Jan 2026
Core Consumer Prices 117.90 119.10 points Dec 2025
CPI Clothing and Footwear 111.50 113.30 points Dec 2025
CPI Education 122.10 122.00 points Dec 2025
CPI Food and Non-Alcoholic Beverages 136.50 136.80 points Dec 2025
CPI Housing Utilities 118.20 118.20 points Dec 2025
CPI Recreation, Entertainment and Culture 117.80 117.30 points Dec 2025
CPI Restaurant and Accommodation Services 132.90 132.60 points Dec 2025
CPI Transportation 128.50 127.90 points Dec 2025
Export Prices 115.50 115.60 points Dec 2025
Harmonised Consumer Prices 132.70 132.80 points Jan 2026
Harmonised Inflation Rate MoM -0.10 0.20 percent Jan 2026
Harmonised Inflation Rate YoY 2.10 2.00 percent Jan 2026
Import Prices 111.30 111.40 points Dec 2025
Inflation Rate YoY 2.10 1.80 percent Jan 2026
Inflation Rate MoM 0.10 0.00 percent Jan 2026
PPI MoM -0.20 0.00 percent Dec 2025
Producer Prices 125.10 125.40 points Dec 2025
Wholesale Prices 117.70 117.90 points Dec 2025


Germany Inflation Rate
In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent) and Food & non-alcoholic beverages (10 percent). The index also includes Miscellaneous goods & services (7 percent), Furniture, lighting equipment, appliances & other household equipment (5 percent), Restaurant & accommodation services (5 percent), Health (5 percent) and Clothing & footwear (5 percent). The remaining 7 percent of the index is composed of Alcoholic beverages & tobacco, Communication and Education.
Actual Previous Highest Lowest Dates Unit Frequency
2.10 1.80 11.70 -7.62 1950 - 2026 percent Monthly

News Stream
German Inflation Rises in January as Food Prices Jump
Germany’s annual inflation rate rose to 2.1% in January 2026, up from December’s 15-month low of 1.8% and slightly above market expectations of 2.0%, according to a preliminary estimate. The harmonized index of consumer prices (HICP), the measure closely watched by the ECB, also increased to 2.1%, leaving both readings near the central bank’s 2% target. Goods inflation accelerated to 1.0% from 0.4%, largely reflecting a sharp rise in food prices (2.1% vs 0.8%). This came despite a deeper decline in energy costs (-1.7% vs -1.3%). Meanwhile, services inflation eased to 3.2% from 3.5%, offering some relief on underlying price pressures. Core inflation, which strips out food and energy, ticked up to 2.5% from 2.4%, after hitting its lowest level in more than four years in December.
2026-01-30
German Inflation Confirmed at 1.8% in December
Germany’s annual inflation rate fell to 1.8% in December 2025, matching flash estimates and down from 2.3% in November. The reading fell below the European Central Bank’s 2% target midpoint for the first time since September 2024, marking the lowest inflation rate in 15 months. Goods inflation eased sharply, slowing to 0.4% from 1.1% in November, due to softer increases in food prices (0.8% vs 1.2%) and a deeper decline in energy prices (-1.3% vs -0.1%), led by lower prices for heating oil (-3.6%) and electricity (-1.8%). In contrast, services inflation remained elevated and unchanged at 3.5%, driven by sharp increases in passenger transport (11.4%) and social services (7.7%). Core inflation, which excludes volatile food and energy prices, fell to 2.4%, its lowest level since June 2021. Meanwhile, the EU-harmonized CPI eased to 2.0% in December, its lowest level since July. For the full year 2025, national inflation averaged 2.2%, while harmonized inflation averaged 2.3%.
2026-01-16
Germany Inflation Slips Below ECB Target
Germany’s annual inflation rate fell to 1.8% in December 2025, down from 2.3% in November and below market expectations of 2.0%, according to preliminary data. The reading dropped below the European Central Bank’s 2% target midpoint for the first time since September 2024, marking the second-lowest inflation rate since early 2021. Goods inflation slowed sharply, easing to 0.4% from 1.1% in November, reflecting softer food price growth (0.8% vs. 1.2%) and a deeper decline in energy prices (-1.3% vs. -0.1%). In contrast, services inflation remained stubbornly elevated and unchanged at 3.5%. Core inflation, which excludes volatile food and energy prices, fell to 2.4%, its lowest level since June 2021. Meanwhile, the EU-harmonized CPI eased to 2.0% in December, its lowest level since July and below forecasts of 2.2%. For the full year 2025, national inflation averaged 2.2%, while harmonized inflation averaged 2.3%.
2026-01-06