FX.co ★ German HICP Holds Steady at 2.8% in October, Signaling Stable Inflation Trend

Germany’s Harmonised Index of Consumer Prices (HICP) rose 2.8% year-over-year in October 2026, unchanged from the previous reading of 2.8% recorded in October 2026 on the same comparison basis. The latest data, updated on 11 November 2026, indicate that inflationary pressures—measured against the same month a year earlier—have stabilized rather than accelerating or easing further.

Both the current and previous indicators reflect year-over-year changes, meaning October’s 2.8% figure is compared with October a year earlier, just as the prior reading was. This flat profile suggests that, on an annual basis, consumer price growth in Germany has entered a period of relative steadiness, with no new upward or downward momentum visible in the latest HICP release. For markets and policymakers, the unchanged print reinforces the picture of a German inflation environment that is currently stable, but still above the 2% benchmark often associated with price stability in the euro area.