Germany’s CPI inflation was confirmed at 0.0% MoM and 2.0% YoY in June 2025, the lowest annual rate since October 2024, as food and energy price disinflation continued to offset elevated services inflation.

• Core inflation (ex food and energy) was 2.7% YoY. down from 2.8% YoY, and inflation ex-energy was 2.6% YoY, down from 2.7% YoY.
• Energy prices fell -3.5% YoY, driven by declines in motor fuels (-4.6%), heating oil (-5.6%), and electricity (-2.4%).
• Food inflation slowed to 2.0% YoY, with large disparities: fruit (+7.4%), dairy (+3.6%), but vegetables (-3.0%) and sugar (-28.6%).
• Services inflation remained elevated at 3.3% YoY, led by transport (+11.4%), social services (+8.5%), and insurance (+8.1%).
• HICP inflation stood at 0.1% MoM and 2.0% YoY, unchanged from the provisional estimate.