FX.co ★ German HICP Eases to 2.7% in May, Extending Disinflation Trend

Germany’s Harmonised Index of Consumer Prices (HICP) continued to moderate in May 2026, with the year-over-year rate easing to 2.7%, down from 2.9% in April 2026. The latest reading, updated on 29 May 2026, confirms a further slowdown in price growth compared with the same month a year earlier.

The data indicate that German inflation, measured on the harmonised EU standard, is gradually cooling, with May marking a continuation of the disinflation trend seen in recent months. Both the April and May figures compare price changes to the corresponding months a year ago, underscoring a steady, if modest, decline in annual inflationary pressures.