Germany’s Harmonised Index of Consumer Prices (HICP) ticked higher in January 2026, with the year-over-year rate reaching 2.1%, up from 2.0% in December 2025. The data, updated on 30 January 2026, indicate a marginal increase in inflationary pressure at the start of the year.
The figures are based on annual comparisons, with the current reading measuring the change in prices in January 2026 versus January 2025, while the previous figure reflected the change in December 2025 versus December 2024. The slight acceleration suggests that, although inflation remains close to the 2% level, price growth in Germany has not yet fully stabilized. Investors and policymakers will be watching upcoming releases closely to see whether January’s uptick marks the beginning of a new upward trend or a temporary fluctuation in the inflation path.
