FX.co ★ German HICP Inflation Accelerates to 0.6% Month-on-Month in September

Germany’s Harmonised Index of Consumer Prices (HICP) rose by 0.6% month-on-month in September 2026, according to data updated on 30 September 2026. This marks a notable pickup in price momentum compared with August 2026, when HICP increased by 0.2% over the previous month.

The stronger September reading indicates that consumer price pressures in Germany intensified at the start of autumn, as the monthly rate of change tripled versus the prior period. On a month-over-month basis, the “actual” September figure reflects the change from August to September, while the “previous” 0.2% reading captured the change from July to August. Investors and policymakers will be watching upcoming releases closely to assess whether this uptick signals a temporary fluctuation or the beginning of a more sustained acceleration in inflation within the euro area’s largest economy.