Germany CPI

Data Prices

Source: Destatis
Source Link: https://www.destatis.de/
Frequency: Monthly
Next Release(s): January 31st, 2026 8:00 AM

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Germany’s CPI slowed to 1.8% YoY in December (from 2.3% in November), marking a broad-based cooling in inflation late in the year.
- The overall index excluding food and energy eased to 2.4% YoY (Nov: 2.7%), the lowest since June 2021, indicating a moderation in underlying inflation pressures.
- Services inflation held steady at 3.5% YoY (unchanged from October and November), remaining the main contributor to headline price growth.
- Goods inflation decelerated sharply to 0.4% YoY (Nov: 1.1%), pointing to a pronounced slowdown in non-services price increases.
- Energy prices declined -1.3% YoY (Nov: -0.1%), deepening the annual contraction and exerting a stronger downward pull on headline inflation.
- Food inflation slowed to 0.8% YoY (Nov: 1.2%), continuing the easing trend seen over recent months.
- Compared with September and October, inflation momentum weakened across most major components, with the exception of services, which remained persistently elevated.
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Germany's CPI fell -0.2% MoM (vs -0.3% MoM expected), and the annual rate was unchanged at 2.3% YoY in November, unchanged from October but below expectations of a 2.4% YoY rise.
- Core inflation (excluding food and energy) was estimated at +2.7% YoY, slightly above the headline rate and indicating firmer underlying price pressures.
- HICP inflation was -0.5% MoM and 2.6% YoY in November, above expectations of a -0.6% MoM decline and a smaller acceleration in the annual rate to 2.4% YoY.
- Service inflation held at +3.5% YoY (unchanged from October), remaining the primary driver of overall price growth.
- Goods inflation eased to +1.1% YoY (Oct: +1.2%), showing further moderation in price gains for consumer and manufactured goods.
- Energy prices continued to decline, at -0.1% YoY (Oct: -0.9%), signaling a further easing of energy-related inflation pressures.
- Food inflation eased slightly to +1.2% YoY (Oct: +1.3%), supporting overall stability in headline inflation.
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Germany CPI: October 2025 (Final) 2025-11-12 02:00
Germany’s CPI rose +0.3% MoM and +2.3% YoY (vs +2.2% YoY expected) in October 2025 (provisional), marking a slight deceleration from September as lower energy prices partly offset higher service costs.
- Core inflation (excluding food and energy) held steady at +2.8% YoY, remaining above the headline rate and indicating persistent underlying price pressures.
- Service inflation strengthened to +3.5% YoY (from +3.4% in September), maintaining its upward trend.
- Goods inflation slowed to +1.2% YoY (from +1.4%), reflecting easing cost growth in manufactured and consumer goods.
- Energy prices fell -0.9% YoY (after -0.7%), continuing a broad downward trend driven by declines in household energy and motor fuels.
- Food inflation eased to +1.3% YoY (from +2.1%), showing a sharp moderation in price gains across categories.
- The harmonised index of consumer prices (HICP) also increased +0.3% MoM and +2.3% YoY, aligning closely with the national measure.
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Germany’s consumer price index (CPI) rose +0.2% MoM and +2.4% YoY in September 2025, the second consecutive monthly uptick in inflation, following +2.2% in August, as service costs remained elevated and energy declines moderated.
- Energy prices fell -0.7% YoY, the fifth straight month of easing but at a slower pace than August (-2.4%), with motor fuel up +1.1% YoY for the first time since May 2024, while household energy declined -1.9%.
- Food prices rose +2.1% YoY, slower than headline inflation and the lowest increase since January; sugar and confectionery (+6.5%) and fruit (+5.1%) rose most, while edible oils (-3.2%) and vegetables (-2.1%) declined.
- Core inflation (ex food and energy) edged up to +2.8% YoY (vs +2.7% in August), underscoring persistent price pressures across non-energy goods and services.
- Service prices increased +3.4% YoY, the highest since early 2024, led by combined passenger transport (+11.2%), social services (+8.2%), health care (+6.5%), and insurance (+6.5%).
- Goods prices were up +1.4% YoY, with non-alcoholic beverages (+8.2%) and second-hand vehicles (+5.6%) notable drivers, while consumer electronics (-2.7%) and IT equipment (-1.2%) fell.
- On a monthly basis, goods prices rose +0.4% MoM, supported by a +5.3% increase in clothing, while energy prices slipped -0.1% MoM and food and services each rose +0.1%.
- The inflation rate excluding energy stood at +2.7% YoY, slightly above recent months, showing broad-based but moderate upward pressure in prices.
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Germany’s CPI rose +0.2% MoM and +2.4% YoY in September 2025 (vs +2.3% YoY expected), accelerating from +2.2% in August and marking the highest annual rate since December 2024.
- Core CPI (ex food and energy) increased to +2.8% YoY, the highest since May, after holding steady at +2.7% in prior months.
- Services inflation rose to +3.4% YoY, up from +3.1% in both July and August, extending its upward trend.
- Goods prices increased +1.4% YoY, after +1.3% in August and +1.0% in July, showing a gradual pickup.
- Energy prices remained negative at -0.7% YoY, though the pace of decline slowed compared with -2.4% in August and -3.4% in July.
- Food inflation eased slightly to +2.1% YoY from +2.5% in August, continuing its moderation from earlier highs.
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Germany’s CPI rose +0.1% MoM and +2.2% YoY in August 2025, a slight pickup from +2.0% YoY in July, while HICP increased +0.1% MoM and +2.1% YoY. All measures were unchanged from the preliminary estimate.
- Energy prices fell -2.4% YoY, with declines in heating oil (-5.2%), solid fuels (-3.5%), electricity (-1.7%), and district heating (-1.6%), partly offset by natural gas (+0.7%).
- Food prices rose +2.5% YoY, faster than headline inflation, with sharp increases in fruit (+7.1%), confectionery (+6.9%), dairy & eggs (+3.2%), and meat (+2.9%); edible oils (-1.3%) and vegetables (-1.1%) declined.
- Core inflation (ex food and energy) held at +2.7% YoY, unchanged from June and July, showing persistent underlying pressures.
- Service prices increased +3.1% YoY, led by passenger transport (+11.1%), social facilities (+8.1%), in-patient health services (+6.5%), and insurance (+6.4%); only international flights (-8.2%) declined notably.
- Goods prices rose +1.3% YoY, with non-alcoholic beverages (+8.7%, coffee/tea/cocoa +18.5%) and used cars (+7.2%) notable drivers; electronics (-2.8%) and IT equipment (-2.4%) fell.
- On a monthly basis, energy was -0.4% MoM (heating oil -4.1%), food was flat (+0.1%), and beverages rose +3.1%, continuing their upward trend since late 2024.
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Germany’s CPI rose +0.1% MoM and +2.2% YoY in August 2025 (vs +2.1% YoY expected), slightly above July’s +2.0% YoY pace.
- Core inflation (ex food and energy) held steady at +2.7% YoY for the third consecutive month.
- Services inflation was unchanged at +3.1% YoY, continuing its gradual slowdown from earlier in the year.
- Goods inflation edged up to +1.3% YoY (from +1.0% in July), driven partly by food and energy.
- Energy prices remained a drag at -2.4% YoY, though the decline eased compared with -3.4% in July.
- Food inflation moderated to +2.5% YoY (from +2.8% in May), providing a partial offset to energy’s disinflationary effect.
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Germany’s CPI was confirmed at 0.3% MoM and 2.0% YoY in July 2025, unchanged from 2.0% YoY in June, as falling energy prices offset elevated services inflation.
- Core inflation (ex food and energy) was 0.3% MoM and 2.7% YoY, unchanged from 2.7% YoY in June; inflation ex-energy was 2.6% YoY.
- HICP inflation was confirmed at +0.4% MoM and +1.8% YoY.
- Energy prices fell -3.4% YoY, with declines in motor fuels (-4.5%), heating oil (-5.0%), and electricity (-2.0%), partly offset by a small rise in natural gas (+0.3%).
- Food prices rose 2.2% YoY, led by fruit (+7.6%), confectionery (+5.6%), and dairy (+4.1%), while vegetables (-3.2%), sugar (-29.4%), and potatoes (-16.1%) fell.
- Services inflation was 3.1% YoY (vs 3.3% YoY in June), driven by combined passenger transport (+11.3%), postal (+9.0%), and social services (+8.2%), with international flights (-6.8%) down.
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Germany’s CPI rose 2.0% YoY in July 2025, unchanged from June and down from 2.1% in April–May.
- Core inflation (excluding food and energy) held at 2.7% YoY, down from 2.9% in April.
- Services inflation continued to ease to 3.1% YoY (from 3.3% in June and 3.9% in April).
- Goods inflation edged up slightly to 1.0% YoY from 0.8% in June.
- Energy prices remained a drag at -3.4% YoY, a smaller decline than -3.5% in June.
- Food inflation slowed to 2.2% YoY from 2.8% in April–May and 2.0% in June.
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