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Germany · Inflation & data · Source: destatis.de
Flash estimates: German inflation eases to 2.8% in October while French inflation rises to 3.4%
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Summary: Early estimates published on 30 October show German inflation easing to 2.8% in October while French inflation rose to 3.4%. In both countries energy prices are still rising faster than other main groups, though much faster in France than in Germany.
What happened
Germany: The Federal Statistical Office (Destatis) expects consumer prices to be 2.8% higher than a year earlier in October, down from 3.3% in September. Prices fell 0.2% from September. The EU-harmonised measure (HICP) was also 2.8% year on year, down 0.1% on the month. Core inflation, which excludes food and energy, eased to 2.1% from 2.4%. Energy prices were 12.2% higher than a year earlier, compared with 14.9% in September. Services inflation slowed to 2.5%, and goods inflation to 3.0%.
France: INSEE's provisional estimate puts consumer price inflation at 3.4% in October, up from 3.1%. Prices rose 0.4% from September after falling 0.3% the month before. The harmonised index rose 3.8% year on year, up from 3.4%. Energy prices were 24.1% higher than a year earlier, mainly because gas and petroleum products cost more, and services inflation rose to 2.7%. Prices of manufactured goods were still slightly lower than a year ago (-0.2%).
Background
Both figures are early estimates. INSEE notes that its provisional results rest on a limited set of price observations. Destatis also labels its figures provisional.
Reuters reported that analysts it polled had expected German harmonised inflation of 3.1%, so the actual figure was lower than forecast. Across the euro area, annual inflation was 3.8% in September, according to Eurostat.
Why it matters for markets and crypto
Germany and France are the two largest economies in the euro area, so their national figures give an early view of the euro area total. The European Central Bank weighs that total when it sets interest rates. Expectations about rates affect borrowing costs and financial markets broadly, including digital assets. This data relates to the wider economy and does not express a view on any asset.
What to watch next
- 4 November 2026: Eurostat's flash estimate of euro area inflation for October, as scheduled in its 16 October release.
- 11 November 2026: Destatis final October figures.
- 13 November 2026: INSEE final October figures.
- 27 November 2026: INSEE provisional estimate for November.
Sources
- Destatis (Federal Statistical Office), "Inflation rate of +2.8% expected in October 2026", press release No. 382, 30 October 2026
- INSEE, "In October 2026, consumer prices should increase by 3.4% year on year", Informations rapides No. 266, 30 October 2026
- Eurostat, "Annual inflation up to 3.8% in the euro area", 16 October 2026
- Reuters via Investing.com, "German inflation slows in October", 30 October 2026
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