Germany’s Harmonised Index of Consumer Prices (HICP) inflation slowed to 2.8% year-over-year in October 2026, down from 3.3% in September 2026, according to data updated on 30 October 2026. The figure, measured on a harmonised basis used across the euro area, reflects the annual change in prices compared with October a year earlier.
The October reading marks a further step down in German inflation pressure, as the pace of price growth continues to ease from earlier elevated levels. The previous month’s rate of 3.3% had compared prices in September 2026 with those of September a year earlier, while October’s 2.8% figure shows a slower increase in prices versus October of the prior year.
The moderation in HICP is closely watched by markets and policymakers, as Germany is the eurozone’s largest economy and a key driver of the currency bloc’s overall inflation profile. A sustained move lower in German HICP could influence expectations for future European Central Bank policy decisions.
