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Data from Destatis. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany CPI MoM fell to -0.3% in June 2026
DestatisMonthlyReleased July 2026
Germany CPI MoM fell to -0.3% in June 2026, released July 2026, down 0.1% from May's -0.2% reading. The reading matched expectations. The print is running well below the 12-month average of 0.39%. Over the past 3 months, CPI MoM averaged 0.1%, vs 1.1% in the prior 3-month window.
Latest Release
-0.3
Actual
-0.3
Consensus
-0.2
Previous
Median Absolute Error
±0.06 percentage points
across last 6 releases
Last Call
Jul 2026
Predicted: -0.38
Actual: -0.3
Error: -0.08
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| FTSE 100 | ▲ Direct | +0.76 | INDEX | Moves with | → View |
| EUR/JPY | ▼ Inverse | −0.41 | FOREX | Moves against | → View |
| EUR/GBP | ▲ Direct | +0.36 | FOREX | Moves with | → View |
| EUR/USD | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| Euro STOXX 50 | ▲ Direct | +0.29 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI MoM (Germany) was reported at -0.3% in July 2026. This matched the market consensus of -0.3% exactly. The reading fell from the previous value of -0.2%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 0.12%, ranging from -0.3% to 1.1% across 6 releases. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged -0.27%, down from the prior three at 0.5%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with FTSE 100 (Bullish FTSE 100). A secondary relationship exists with EUR/JPY, negatively correlated (Bearish EUR). Over the last 6 releases, the Sigmacast model's median absolute error is 0.06%.
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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CPI MoM - DE
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About CPI MoM — Germany
DEFINITION
Germany's CPI MoM for June came in at -0.300000%, matching estimates and deepening the decline from May's -0.200000%. The data signals continued deflationary pressure as consumer prices contracted further month-over-month. Market focus remains on ECB policy adjustments amid persistent disinflation. Updated 7/11/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. Surprises against consensus typically move rates and currencies on release. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jun 2026): actual -0.3 %, consensus -0.3 %. Prior reading (Jun 2026): -0.3 %. Before that (May 2026): -0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with FTSE 100 (Bullish FTSE 100, r=0.76) — a useful reference for index-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - DE Events
| Tuesday, July 21, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:00 | DE | ZEW Current Conditions | -77.6 | -81 | -77.8 | -77.70 | Low |
| 09:00 | DE | Economic Sentiment | 26.3 | 10.5 | 15.1 | 20.70 | Medium |