FX.co ★ German Inflation Holds Steady as July CPI Matches Previous Month at 0.8% MoM

Germany’s consumer price inflation showed no change in momentum in July, with the month-over-month Consumer Price Index (CPI) holding at 0.8%, identical to the previous reading. According to the latest data updated on 12 August 2026, July’s 0.8% increase matches the pace seen in the prior month, based on a comparison of price changes in each month versus the one immediately before it.

The stability in the July CPI suggests that short-term price pressures neither accelerated nor eased on a monthly basis, potentially reinforcing expectations that inflation dynamics in Germany are in a consolidation phase. With both the current and previous month registering a 0.8% month-over-month increase, markets and policymakers will likely look to upcoming releases for clearer signals on whether inflation will begin to trend higher again or gradually cool from these levels.