FX.co ★ German Inflation Edges Higher in January, CPI Rises to 2.1% YoY

Germany’s consumer price inflation picked up in January, with the Consumer Price Index (CPI) rising 2.1% year-over-year, compared with 1.8% in the previous reading. Both the current and previous figures refer to January 2026, based on updated calculations, and reflect changes versus the same month a year earlier.

The latest data, updated on 17 February 2026, show that annual inflation has moved further above the earlier pace, signaling a modest re-acceleration in price pressures. Under the comparison framework, the “actual” figure measures the change in prices in January versus January a year ago, while the “previous” figure captures the change registered in the prior month’s release relative to its year-ago level.

This uptick in inflation will be closely watched by markets and policymakers as they assess the trajectory of price growth in Europe’s largest economy and its potential implications for monetary policy and consumer purchasing power.