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3w ago

Germany Inflation Hits 2.4% in September, Highest This Year

Core inflation at 2.8% points to stubborn, service- and food-led pressures despite only slight relief from energy.

Ein Mann schiebt einen vollen Einkaufswagen mit Lebensmitteln und Getränken.
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Die Inflation liegt bei 2,4 Prozent – vor allem Dienstleistungen und Lebensmittel verteuern sich weiter
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Overview

  • Preliminary Destatis data show consumer prices up 2.4% year over year in September and 0.2% month over month, marking 2025’s peak so far.
  • Services rose 3.4% and food 2.1% from a year earlier, while energy fell 0.7%, reducing but no longer strongly offsetting overall price growth.
  • Core inflation, which excludes food and energy, climbed to 2.8%, underscoring persistent underlying pressures.
  • Euro area inflation is estimated at 2.2% for September, reinforcing expectations of a cautious, data-dependent ECB after recent rate-cut pauses.
  • Household gas and electricity were cheaper in early 2025 than late 2024 yet remain well above pre-war levels (gas about +77.6% vs 2H 2021; electricity about +21.4%).