Germany’s Harmonised Index of Consumer Prices (HICP) moved further into negative territory in June 2026, underscoring persistent disinflationary pressures in Europe’s largest economy. On a month-over-month basis, HICP fell by 0.2% in June, following a 0.1% decline in May.
The latest figures, updated on 30 June 2026, show that the pace of price declines has modestly intensified compared with the previous month. In May 2026, the month-over-month HICP stood at -0.1%, reflecting a slight drop in prices versus April. The June 2026 reading of -0.2% now indicates a deeper month-on-month contraction.
According to the comparison methodology, the “actual” value reflects the change in prices in June versus May, while the “previous” value showed the change in May versus April. The back-to-back negative prints suggest a continued weakening in short-term price dynamics, with potential implications for inflation expectations and monetary policy discussions in the euro area.
