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3h ago

Germany Inflation Ticks Up to 2.4% in September, Highest This Year

Economists split on whether the uptick is a base‑effect blip or a sign of stickier price pressures.

Olivenöl verschiedener Marken in einem Supermarktregal.
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Verschiedene Euro-Banknoten liegen auf einem Tisch
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Overview

  • Destatis confirmed headline CPI at 2.4% year over year and 0.2% month over month in September, with the harmonised HICP also at 2.4%.
  • Core inflation edged up to 2.8%, reflecting persistent underlying pressures despite the broader deceleration seen earlier in the year.
  • Services drove the rise with prices up 3.4% from a year earlier, including sharp increases for combined public transport (+11.2%), social services (+8.2%), health services (+6.5%) and insurance (+6.5%), while net cold rents rose 2.0%.
  • Food prices increased 2.1% overall, with wide dispersion as chocolate jumped 21.2% and coffee/tea/cocoa rose 17.8%, fruit gained 5.1%, vegetables fell 2.1% and olive oil dropped 22.6%.
  • Energy was 0.7% cheaper than a year earlier as its disinflationary pull weakened; fuels rose 1.1% for the first annual increase since May 2024, household energy fell 1.9% with electricity down 1.6% and district heating down 2.2%, while natural gas rose 0.7% and heating oil edged up 0.1%.