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Data from Destatis. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany CPI YoY climbed to 2.9% in August 2026
DestatisMonthlyReleased August 2026
Germany CPI YoY climbed to 2.9% in August 2026, up 0.1% from July's 2.8% reading. The reading matched expectations. The print is running well above the 12-month average of 2.66%. Over the past 3 months, CPI YoY averaged 2.56%, vs 2.76% in the prior 3-month window.
Latest Release
2.9
Actual
3
Consensus
2.8
Previous
Median Absolute Error
±0.08 percentage points
across last 9 releases
Last Call
Aug 2026
Predicted: 2.98
Actual: 2.9
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 |
|---|---|---|---|---|---|
| EUR/JPY | ▼ Inverse | −0.57 | FOREX | Moves against | → View |
| FTSE 100 | ▲ Direct | +0.49 | INDEX | Moves with | → View |
| Euro STOXX 50 | ▲ Direct | +0.39 | INDEX | Moves with | → View |
| S&P 500 | ▲ 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 YoY (Germany) was reported at 2.9% in August 2026. This missed the market consensus of 3% by 0.1%. The reading rose from the previous value of 2.8%. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 2.66%, ranging from 2.3% to 2.9% across 9 releases. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 2.83%, up from the prior three at 2.4%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/JPY (Bearish EUR). A secondary relationship exists with FTSE 100, positively correlated (Bullish FTSE 100). Over the last 9 releases, the Sigmacast model's median absolute error is 0.08%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Wholesale Prices MoM (Sep 15) and Wholesale Prices YoY (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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CPI YoY - DE
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About CPI YoY — Germany
DEFINITION
Germany's CPI YoY for August came in at 2.900%, slightly below the 3.000% estimate but up from July's 2.800%. This marks a continued upward trend in inflation after July's increase from June's 2.300%, indicating persistent price pressures. Market focus remains on ECB policy adjustments amid steady inflation readings. Updated 8/31/26
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 can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 2.9 %, consensus 3 %. Prior reading (Jul 2026): 2.8 %. Before that (Jul 2026): 2.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with EUR/JPY (Bearish EUR, r=-0.57) — a useful reference for forex-focused traders.
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Economic Calendar - DE Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | DE | Wholesale Prices MoM | 0.2 | 0.1 | -0.60 | Medium | |
| 06:00 | DE | Wholesale Prices YoY | 5.3 | 6.2 | 5.35 | Medium | |
| 09:00 | DE | ZEW Economic Sentiment Index | 34.2 | 37 | 45.25 | High | |
| 09:00 | DE | ZEW Current Conditions | -61.1 | -52.2 | -53.70 | Low | |
| 09:00 | DE | Economic Sentiment | 34.2 | 42.7 | 50.85 | Medium | |