- Prior +2.6%
- HICP +2.4% vs +2.5% y/y expected
- Prior +2.7%
- Core CPI Y/Y +2.5% vs 2.5% prior
- Full report here
The inflation rate in Germany is expected to be +2.3% in June 2026. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices decreased by 0.3% on May 2026. The inflation rate excluding food and energy, often referred to as core inflation, is expected to stand at +2.5% in June 2026 vs 2.5% the prior month. Energy prices are expected to be up 3.4% on the same month of the previous year. The rise in energy prices therefore slowed once again in June.
This is a welcome report for the ECB and it basically seals the case for pausing in July and wait for September at the earliest to think about another rate hike.
