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30.07.202612:05:26UTC+00German Inflation Accelerates to Three-Month High

Germany’s annual inflation rate accelerated to 2.8% in July 2026 from 2.3% in June, slightly above market expectations of 2.7%, according to preliminary estimates. This marked the highest level since April, largely driven by a sharp increase in energy inflation, which jumped to 8.3% from 3.4% as renewed tensions in the Middle East pushed oil prices higher. By contrast, services inflation eased to 2.9% from 3.1%, while food inflation was unchanged at 0.4%. Core inflation, which excludes energy and unprocessed food, inched down to 2.4% from 2.5%. The EU-harmonized inflation rate likewise rose to 2.8%, its highest reading in three months and well above the European Central Bank’s 2.0% target.

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