🇩🇪Germany inflation rate
released 19 Aug 2026 · data through July 2026 · next release expected 31 Aug 2026
Germany joined the euro at its launch in 1999. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 2.8% as of July 2026. That is 0.8 percentage points above the ECB's 2% target, and 0.2 points below the eurozone average of 3.0%.
The breakdown shows core (excluding energy and food) at 2.6%, energy at 7.3%, food at 1.3% and services at 3.3%. The strongest pressure is in energy (7.3%), while food is the softest (1.3%).
Month on month the headline rose from 2.4% to 2.8%, extending the climb.
Germany ranks number 18 of 30 European economies by annual inflation, from highest to lowest, between Norway and Austria.
Germany's harmonised inflation is 2.8% as of July 2026 — abovethe European Central Bank's 2% target by 0.8 percentage points.
Compare with the rest of Europe on the European inflation ranking →
Frequently asked questions
- What is Germany's current inflation rate?
- Germany's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 2.8% as of July 2026.
- Is Germany's inflation above or below the ECB's 2% target?
- At 2.8%, it is 0.8 percentage points above the European Central Bank's 2% target.
- How does Germany's inflation compare with the rest of Europe?
- Germany ranks number 18 of 30 European economies by inflation, 0.2 points below the eurozone average of 3.0%.
- Did Germany's inflation rise or fall last month?
- Month on month, the headline rate rose from 2.4% to 2.8% in July 2026.