German Inflation Eases to 2.8% in October as Energy Price Growth Slows

Germany's annual consumer-price inflation slowed to 2.8% in October 2026 from 3.3% in September, according to a preliminary estimate released Friday by the Federal Statistical Office (Destatis). The result marked a reduction in the pace of price increases, not a year-on-year fall in the overall price level.

The statistical office said consumer prices declined 0.2% from September on the national measure. Its harmonised index, which is used for comparisons across European Union economies, was also 2.8% higher than a year earlier but fell 0.1% month on month. All October figures are provisional.

Energy prices were 12.2% above their October 2025 level, compared with a 14.9% annual increase in September. The measure excluding food and energy, commonly called core inflation, slowed to 2.1% from 2.4%. Services inflation eased to 2.5%, while food prices were 0.4% higher than a year earlier.

The moderation comes after Germany introduced a temporary reduction in fuel taxes at the beginning of October. The policy may help explain lower pump-price pressure, although the preliminary figures do not establish how much of the overall change is attributable to the measure. Energy prices remain considerably higher than a year ago.

The data offer a new indication of price trends in Europe's largest economy ahead of further euro-area inflation releases. They should not be read as a final result: Destatis plans to publish its confirmed October figures on 11 November 2026.