Germany’s CPI rose +0.2% MoM and +1.9% YoY in February 2026, showing mild monthly price growth.

• Headline CPI inflation was +1.9% YoY (Jan: +2.1%), indicating a modest deceleration in annual consumer price growth.

• Core inflation excluding food and energy stood at +2.5% YoY (Jan: +2.5%), remaining unchanged and above the headline rate.

• Harmonised CPI (HICP) increased +0.4% MoM and +2.0% YoY, slightly higher than the national CPI on an annual basis.

• Services inflation measured +3.2% YoY (Nov: +3.5%), showing easing from late 2025 levels but stable month to month.

• Goods inflation was +0.8% YoY (Jan: +1.0%), indicating modest price increases with variability across months.

• Energy prices fell -1.9% YoY (Jan: -1.7%), continuing to exert downward pressure on the headline rate.

• Food prices increased +1.1% YoY (Jan: +2.1%), showing a slowdown compared with January but still positive annual growth.