FX.co ★ German Inflation Turns Negative in October as Monthly CPI Falls 0.2%

Germany’s consumer prices declined on a month-over-month basis in October 2026, with the country’s CPI slipping by 0.2% compared with September, according to data updated on 30 October 2026. The move marks a sharp turnaround from the previous month, when prices had increased by 0.6% in September versus August.

The October reading, measured on a month-over-month basis, indicates that instead of continuing to rise, consumer prices edged lower, suggesting a notable cooling in short-term inflation dynamics. The previous figure – a 0.6% gain in September 2026 compared to the prior month – had pointed to still-elevated price momentum. The latest negative print could influence expectations for monetary policy and economic activity in Germany, as markets assess whether this signals temporary relief in consumer prices or the start of a more persistent disinflationary trend.