The annual rise in consumer prices in Germany picked up again in January 2026. The statistical office announced that the inflation rate is expected to be 2.1 percent, up from 1.8 percent in December. Compared with the previous month, prices are projected to have increased by 0.1 percent in the first month of the year.

Core inflation, which excludes food and energy, is expected to have slipped from 2.4 percent in December to 2.5 percent in January-remains well above the headline index. Energy prices fell 1.7 percent in January compared with the same month last year. Food prices rose strongly by 2.1 percent, while service prices climbed 3.2 percent.