Inflation in Germany and the euro area

The inflation rate measures how much consumer prices have risen against the same month a year earlier. For long-term wealth building it is the decisive hurdle: only returns above inflation increase purchasing power. The Harmonised Index of Consumer Prices (HICP) shown here is the Europe-wide harmonised measure — it differs slightly from national CPI figures but is comparable across countries.

Germany inflation rate (HICP, year on year) 2.90 %

Euro area inflation rate (HICP, year on year) 3.30 %

As of August 2026 · series since 1999-01-01 (332 observations) · change vs previous +0.10.

All-time high11.60 %

All-time low-0.70 %

Data starts1999-01-01

Frequencymonthly

Data note 1

History by year

Year-end values
Year	Germany inflation rate (HICP, year on year)	Euro area inflation rate (HICP, year on year)
2026	2.90	3.30
2025	2.00	1.90
2024	2.80	2.40
2023	3.80	2.90
2022	9.60	9.20
2021	5.70	5.00
2020	-0.70	-0.30
2019	1.50	1.30
2018	1.70	1.50
2017	1.50	1.30
2016	1.60	1.10
2015	0.20	0.30
2014	0.10	-0.20
2013	1.20	0.80
2012	2.10	2.20
2011	2.20	2.80
2010	1.80	2.20
2009	0.90	0.90
2008	1.10	1.60
2007	3.10	3.10
2006	1.40	1.90
2005	2.10	2.30
2004	2.30	2.30
2003	1.10	2.00
2002	1.10	2.30

Relationship with equity markets

Correlation of changes, not of levels. Two series that both trend for years correlate almost perfectly in levels without any relationship following from it. Values near 0 mean no discernible co-movement.

Correlations
Series	Strongest relationships
Germany inflation rate (HICP, year on year)	Nikkei 225 +0.01 n=199 Based on monthly changes
Euro area inflation rate (HICP, year on year)	Nikkei 225 +0.01 n=199 Based on monthly changes

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