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

Germany’s Harmonised Index of Consumer Prices (HICP) remained unchanged in July, with the annual inflation rate holding at 2.8% year-over-year. According to the latest data updated on 12 August 2026, the current reading for July 2026 matches the previous indicator of 2.8%, which was also measured on a year-over-year basis.

The stability in the HICP suggests that price pressures in Germany neither accelerated nor eased compared with the previous month’s annual rate. Both the “actual” figure for July 2026 and the “previous” comparison—each measuring price changes against the same month a year earlier—point to a steady inflation environment, which will be closely watched by markets and policymakers for signs of future shifts in the euro area’s largest economy.