FX.co ★ German HICP Inflation Edges Up to 2.9% in August, Slightly Above July Reading

Germany’s Harmonised Index of Consumer Prices (HICP) ticked higher in August 2026, with the year-over-year rate rising to 2.9%, up from 2.8% in July 2026. The data, updated on 31 August 2026, indicate a marginal acceleration in inflationary pressures in Europe’s largest economy.

Both the July and August readings are based on year-over-year comparisons, measuring price changes relative to the same month a year earlier. While the increase from 2.8% to 2.9% is modest, it suggests that inflation momentum has not yet eased decisively and will likely remain a focal point for policymakers and markets monitoring the trajectory of euro-area price stability.