FX.co ★ Germany’s Consumer Prices Slip in October, Marking First Monthly Decline of 2026

Germany’s consumer price index (CPI) turned negative in October 2026 on a month-over-month basis, signaling a notable cooling in price pressures. According to the latest data updated on 11 November 2026, CPI fell by 0.2% compared with the previous month, after having risen by 0.6% in the prior reading.

Both the previous and current figures refer to October 2026 but capture different comparison points: the earlier 0.6% reading reflected the change from August to September, while the latest -0.2% figure compares September to October. The shift from a solid monthly increase to a slight decline suggests that short‑term inflation momentum has eased, an important signal for policymakers and markets tracking the trajectory of German price dynamics on a month-over-month basis.