German Inflation Rises in January as Food Prices Jump

EthereumCraftsman · 2026-01-30T19:38:32+00:00

Germany's inflation rate rose to 2.1% in January 2026, exceeding expectations, driven by increased goods and food prices despite falling energy costs. Services inflation slightly eased, while core inflation inched up to 2.5%.

EthereumCraftsman

2026-01-30 19:38:32

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Germany’s annual inflation rate rose to 2.1% in January 2026, up from December’s 15-month low of 1.8% and slightly above market expectations of 2.0%, according to a preliminary estimate. The harmonized index of consumer prices (HICP), the measure closely watched by the ECB, also increased to 2.1%, leaving both readings near the central bank’s 2% target. Goods inflation accelerated to 1.0% from 0.4%, largely reflecting a sharp rise in food prices (2.1% vs 0.8%). This came despite a deeper decline in energy costs (-1.7% vs -1.3%). Meanwhile, services inflation eased to 3.2% from 3.5%, offering some relief on underlying price pressures. Core inflation, which strips out food and energy, ticked up to 2.5% from 2.4%, after hitting its lowest level in more than four years in December.

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