Inflation in Germany remains at moderate levels. According to preliminary estimates by the Federal Statistical Office (Destatis), consumer prices increased by 1.5% in October. 2,3% on an annual basis and the 0,3% compared to SeptemberAfter the summer peak, price dynamics are therefore showing a slight slowdown.
THEunderlying inflation – which excludes energy and food – remains high, however, + 2,8 %, a sign that pressure on services continues to be significant. The sector of services recorded an average increase in prices of 3,5% (3,4% in September), confirming its driving role.
On the contrary, the increase in the price of beni remained more contained (+1,2%). The sector energetic continues to have a calming effect: domestic energy and fuel prices are lower than 0,9% compared to a year ago. Even the foodstuffs they are growing at a more moderate pace, +1,3% against +2,5% in the summer.
Overall, the data indicate a gradual normalization of prices In Germany, however, trends differed across the various components. While energy and food contributed to curbing overall inflation, services remained strong.
For businesses – especially in trade and services – this evolution suggests a phase of greater stability and predictability for the last quarter of the year, although the monthly increase of 0,3% shows that the cooling process is not yet complete.
Destatis also reports that consumers can calculate their own personal inflation through an online simulator, adapting monthly expenses based on your consumption habits.
THEHarmonized Index of Consumer Prices (HICP), used as a reference for the ECB's monetary policy, shows an identical dynamic: + 2,3% on an annual basis e +0,3% on a monthly basis.
The final inflation results for October will be published on 12th November 2025According to analysts, attention remains focused on the dynamics of core inflation, considered the main indicator for assessing any new price impulses in the services sector.
