Germany Core Inflation Rate

Year-on-year change in consumer prices excluding food and energy.

Core Inflation Rate in Germany increased to 2.56 percent in Sep 2026 from 2.51 percent in Aug 2026.

2.6%
▲ +0.0 ppSep 2026 · previous 2.5%Monthly · percent · Source: OECD — Organisation for Economic Co-operation and Development

Germany Core Inflation Rate — History

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Germany Core Inflation Rate — analysis in simple words

Latest reading

Core Inflation Rate in Germany increased to 2.56 percent in Sep 2026 from 2.51 percent in Aug 2026.

Over the last three months it rose twice and fell once.

Recent trend

A year earlier (Sep 2025) it was 2.6%, so the latest figure is 0.1 percentage points lower.

Over the past five years the average was 3.4%, with a range from 2.2% to 5.9%. The latest value is below that five-year average.

Historical context

This data series starts in Jan 1963 and has 765 monthly observations. The latest reading is higher than 59% of all of them.

The highest value on record is 7.1% (Nov 1974) and the lowest is -0.8% (Jul 2020). The long-run average is 2.6%.

Compared with other countries

Among 38 economies with recent data, Germany ranks 27th from the top. The median across all these economies is 2.9%, so Germany is below the typical country.

Among 12 major economies tracked on this site it ranks 8th.

Within Europe & Central Asia (29 economies with data) it ranks 20th; the regional median is 2.9%.

Statistics

Latest
2.6%Sep 2026
Previous
2.5%
5-year average
3.4%
Long-run average
2.6%since Jan 1963
All-time high
7.1%Nov 1974
All-time low
-0.8%Jul 2020
Observations
765Monthly

Recent Data

PeriodValueChange
Sep 20262.6%▲ +0.0 pp
Aug 20262.5%▼ −0.1 pp
Jul 20262.6%▲ +0.2 pp
Jun 20262.4%▼ −0.1 pp
May 20262.5%▲ +0.2 pp
Apr 20262.3%▼ −0.1 pp
Mar 20262.5%▲ +0.2 pp
Feb 20262.3%▼ −0.0 pp
Jan 20262.3%▲ +0.2 pp
Dec 20252.2%▼ −0.5 pp
Nov 20252.6%▼ −0.0 pp
Oct 20252.7%▲ +0.0 pp
Sep 20252.6%▲ +0.2 pp
Aug 20252.4%▲ +0.1 pp
Jul 20252.4%▼ −0.0 pp
Jun 20252.4%▼ −0.1 pp
May 20252.5%▼ −0.1 pp
Apr 20252.6%▲ +0.2 pp
Mar 20252.5%▼ −0.1 pp
Feb 20252.6%▼ −0.2 pp
Jan 20252.8%▼ −0.3 pp
Dec 20243.0%▲ +0.3 pp
Nov 20242.7%▲ +0.1 pp
Oct 20242.6%▲ +0.2 pp
Sep 20242.4%▼ −0.1 pp
Aug 20242.5%▼ −0.2 pp
Jul 20242.8%▲ +0.0 pp
Jun 20242.7%▼ −0.2 pp
May 20242.9%▲ +0.2 pp
Apr 20242.7%

Core Inflation Rate — Germany vs Peers

Latest available reading for each economy (periods may differ). Germany highlighted.

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See all countries →

More Germany indicators

GDP Annual Growth Rate1.0%Q2 2026Interest Rate2.50%Sep 2026Inflation Rate3.3%Sep 2026Unemployment Rate4.0%Aug 2026Government Debt to GDP62.7%2025Balance of Trade$119.0B2025Current Account to GDP4.4%2025GDP$5,050.9B2025GDP Growth Rate0.33%Q2 2026GDP Deflator Growth3.0%2025Inflation Rate MoM0.64%Sep 2026Food Inflation0.3%Sep 2026
Germany economy overview →   Core Inflation Rate — all countries →

Understanding Core Inflation Rate — a simple guide

What it measures

The year-on-year change in consumer prices excluding food and energy, which can jump around because of weather, harvests and oil prices.

How it is calculated

The same method as headline CPI inflation, but the basket excludes food and energy items.

Simple example

If headline inflation is 4% but food prices jumped, core inflation might be only 3%.

▲ When it is high or rising

High core inflation means price rises are broad-based, not just caused by food or fuel.

▼ When it is low or falling

Low core inflation suggests underlying price pressure is mild.

Why it matters for the economy and markets

Central banks watch core inflation to judge the underlying trend in prices. If core inflation stays high, interest rates are more likely to stay high too.

How to read it

Compare it with headline inflation: if headline falls because fuel got cheaper but core stays high, price pressure across the economy has not really eased.

What to look at alongside it

Headline inflation, wage growth and the policy rate.

Key terms

Headline inflation
Inflation of the full CPI basket.
Core inflation
Inflation excluding food and energy.

Data source

OECD — Organisation for Economic Co-operation and Development (series OECD CPI ex food & energy), monthly data from Jan 1963 to Sep 2026. Values are shown exactly as published by the source and may be revised later.

How to use the chart

Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.

Frequently asked questions

What is the current core inflation rate of Germany?
Germany core inflation rate was 2.6% in Sep 2026, compared with 2.5% in the previous period, according to OECD — Organisation for Economic Co-operation and Development.
What is the highest and lowest core inflation rate of Germany?
Since Jan 1963, the highest reading was 7.1% (Nov 1974) and the lowest was -0.8% (Jul 2020).
What does core inflation rate measure?
The year-on-year change in consumer prices excluding food and energy, which can jump around because of weather, harvests and oil prices.

Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.