Germany April Inflation Confirmed at 2.9%

Germany’s annual inflation rate accelerated to 2.9% in April 2026, confirming preliminary estimates and rising from 2.7% in March, marking the highest reading since January 2024. The increase was largely driven by another sharp rise in energy prices, which surged 10.1% amid higher crude oil prices linked to the ongoing Iran war. Motor fuel costs jumped 26.2%, while heating oil prices soared 55.1%. Food inflation also picked up to 1.2% from 0.9%, while goods inflation accelerated to 2.9% from 2.3%. In contrast, services inflation eased to 2.8% from 3.2%. Core inflation, which excludes food and energy, held steady at 2.3%. On a monthly basis, consumer prices rose 0.6% in April, matching preliminary estimates, as energy prices increased 2.1%. Meanwhile, the annual HICP inflation rate edged up to 2.9% from 2.8% in March, also reaching its highest level since January 2024, and well above the European Central Bank’s 2% target.

Germany’s consumer price inflation rose to 2.9% year-over-year in April 2026, up from 2.7% in March and slightly below market expectations of 3%, according to preliminary data. This marks the highest rate since January 2024, primarily driven by a 10.1% surge in energy prices linked to the Iran war. Food inflation also ticked up to 1.2% from 0.9%, while services inflation eased to 2.8% from 3.2%. The core inflation rate, excluding food and energy, fell to 2.3%, its lowest level since June 2021. Meanwhile, the EU-harmonized annual inflation rate increased to 2.9%, the highest since January 2024 and well above the European Central Bank’s 2% target.

Germany’s annual inflation rate climbed to 2.7% in march 2026, confirming preliminary estimates and accelerating from 1.9% in February. It marked the highest level since January 2024, largely driven by a sharp rebound in energy prices, which climbed 7.2% amid surging fuel (20%) and light heating oil (44.4%) costs. The spike reflects ongoing pressures linked to the prolonged Middle East conflict and developments in global crude oil markets. Goods inflation picked up to 2.3%, supported by higher prices for consumer goods (3.4%) and durable goods (0.5%). Food price growth eased to 0.9% from 1.1%, as a steep decline in fats and oils (-17.6%) offset notable increases in sugar, jam, honey, and confectionery (6.1%). Services inflation strengthened to 3.2%, with significant rises in social services (7%) and combined passenger transport (6.2%). Meanwhile, core inflation edged down to 2.3% from 2.5%. On a monthly basis, CPI climbed 1.1% from 0.2% in February, in line with initial estimates.