Harmonised inflation (HICP) · Germany
Germany Harmonised Inflation Rate YoY Prel
The Germany Harmonised Inflation Rate YoY Prel measures consumer price inflation in Germany using the EU's harmonised method (HICP), so that it can be compared across countries.
- Importancia
- Medium
- Publicado
- Monthly
- Próxima publicación
- Divisa
- EUR · euro
- Banco central
- The European Central Bank (with the Bundesbank)
Últimas cifras
El último dato, de OCT, se publicó el 2026-10-30 y fue 2.8%. Está por debajo del consenso de 3.1%. Es menos que 3.3% la vez anterior.
A lower figure than expected gives the European Central Bank (with the Bundesbank) room to cut or hold rates lower: the euro tends to soften and bond yields to fall.
En las últimas 12 publicaciones osciló entre 2.0% y 3.3%, con una media de 2.6%.
| Publicado | Para | Real | Consenso | Anterior |
|---|---|---|---|---|
| 30 Oct 2026 | OCT | 2.8% | 3.1% | 3.3% |
| 30 Sep 2026 | SEP | 3.3% | 3.1% | 2.9% |
| 31 Aug 2026 | AUG | 2.9% | 3.1% | 2.8% |
| 30 Jul 2026 | JUL | 2.8% | 2.8% | 2.4% |
| 30 Jun 2026 | JUN | 2.4% | 2.6% | 2.7% |
| 29 May 2026 | MAY | 2.7% | 2.8% | 2.9% |
| 29 Apr 2026 | APR | 2.9% | 3.1% | 2.8% |
| 30 Mar 2026 | MAR | 2.8% | 2.8% | 2% |
| 27 Feb 2026 | FEB | 2% | 2.1% | 2.1% |
| 30 Jan 2026 | JAN | 2.1% | 2% | 2% |
| 6 Jan 2026 | DEC | 2% | 2.2% | 2.6% |
| 28 Nov 2025 | NOV | 2.6% | 2.4% | 2.3% |
Por qué importa
The European Central Bank's 2% target is defined on the euro area HICP. National HICP releases, especially Germany's, France's, Spain's and Italy's preliminary figures, arrive before the euro area total and move euro and bond markets as a preview.
Cómo se calcula
Each country's statistics office collects prices for a common basket and methods set by Eurostat; owner-occupied housing costs are left out, which is the main difference from many national CPIs.
HICP inflation (yoy) = HICP ÷ HICP 12 months ago − 1Qué significan los cambios
- A national HICP above expectations raises the odds of a hawkish ECB.
- Look at services and core components in the euro area release; energy drives most of the swings.
Mayor de lo esperado: A higher figure than expected makes the European Central Bank (with the Bundesbank) more likely to keep rates high or raise them: it tends to support the euro and push bond yields up, and is often a weight on stocks.
Menor de lo esperado: A lower figure than expected gives the European Central Bank (with the Bundesbank) room to cut or hold rates lower: the euro tends to soften and bond yields to fall.
Una breve historia
The HICP was introduced in 1997 to check whether countries met the inflation criterion for joining the euro; the ECB adopted it as its target measure when the euro started in 1999.
Preguntas
What is the Germany Harmonised Inflation Rate YoY Prel?
The Germany Harmonised Inflation Rate YoY Prel measures consumer price inflation in Germany using the EU's harmonised method (HICP), so that it can be compared across countries.
What was the latest Germany Harmonised Inflation Rate YoY Prel?
2.8% for OCT, published on 30 October 2026 (consensus 3.1%, previous 3.3%).
When is the next Germany Harmonised Inflation Rate YoY Prel?
On Monday 30 November 2026 at 13:00 UTC.
Solo contenido educativo, no asesoramiento de inversión. Las cifras son los resultados publicados según los registra nuestro calendario; las reacciones del mercado descritas son típicas, no garantizadas.