German inflation rose to 2.8 percent in July as energy prices climbed 8.3 percent year on year

Germany's Federal Statistical Office (Destatis) said on Thursday, 30 July 2026, in a provisional estimate that the country's inflation rate reached 2.8 percent in July 2026. The rate was 2.3 percent in June. The consumer price index rose 0.8 percent in July from June, and core inflation, excluding food and energy, is estimated at 2.4 percent.

According to the release, energy prices in July were up 8.3 percent on July of the previous year, with the pace of increase accelerating significantly again. The figure was 3.4 percent in June and 6.6 percent in May. Food prices in July were 0.4 percent higher than a year earlier.

Germany is the largest economy in the euro area, and the renewed acceleration in its energy prices shows the energy shock stemming from the conflict in West Asia feeding into European inflation. That bears on the European Central Bank's interest rate path and through it on the euro to dollar exchange rate. According to Sahmino data, the euro stood at 1.1474 against the dollar at 16:29 on Thursday, 30 July.