FX.co ★ German HICP Picks Up in February, Reversing January’s Decline

Germany’s Harmonised Index of Consumer Prices (HICP) turned positive in February 2026, signaling a rebound in consumer price dynamics after the slight downturn seen at the start of the year.

According to data updated on 27 February 2026, the HICP rose 0.4% month-over-month in February, compared with a 0.1% decline in January 2026. The figures are calculated on a month-over-month basis, meaning February’s increase reflects the change in prices relative to January, while January’s negative reading captured the movement versus December 2025.

The shift from -0.1% to 0.4% suggests that price pressures in Germany have firmed again after a brief period of weakening, as measured by the harmonised methodology used across the euro area for cross-country inflation comparisons.