Germany inflation expectations
Germany inflation expectations of households and firms, alongside consumer sentiment indices.
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| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | |
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| Households: inflation expectations2 | ||||||||||||||||||||||||||||||||||||||
| Median10 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany total Monthly Winsorisierung at 2nd and 98th percentile | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 2.8 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4.5 | 4 | 4 | 5 | 5.5 | |
| By age3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany age 16 to 39 Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.3 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.4 | 2.5 | 2.5 | 2.5 | 3 | 2.8 | 2.5 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4 | 4 | 4 | 5 | 5 | |
| 1 year Inflation HICP Germany age 40 to 59 Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.6 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 2.8 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4.2 | 4 | 4.5 | 5 | 5.5 | |
| 1 year Inflation HICP Germany age 60 and older Monthly Trimmed at -12%, +12% | 3 | 3 | 2.9 | 3 | 3 | 3 | 3 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.8 | 3 | 3 | 3 | 2.9 | 2.8 | 2.2 | 2.5 | 3 | 3 | 3 | 3 | 2.8 | 3 | 3 | 4 | 4 | 4 | 5 | 5.8 | |
| By education3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany university entrance or less Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.6 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4.5 | 4 | 4 | 5 | 5.1 | |
| 1 year Inflation HICP Germany Bachelor Monthly Trimmed at -12%, +12% | 3 | 3 | 2.9 | 2.8 | 3 | 3 | 3 | 2.5 | 2.3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.3 | 3 | 3 | 2.5 | 3 | 2.8 | 2.5 | 2.2 | 2.5 | 3 | 2.8 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 | |
| 1 year Inflation HICP Germany more then Bachelor Monthly Trimmed at -12%, +12% | 3 | 3 | 2.9 | 3 | 3 | 3 | 3 | 2.2 | 2.3 | 2.5 | 2.4 | 2.5 | 2.5 | 2.3 | 2.4 | 2.4 | 2.3 | 3 | 2.7 | 2.5 | 2.6 | 2.5 | 2.5 | 2.1 | 2.4 | 2.9 | 2.5 | 2.8 | 3 | 3 | 3 | 3 | 4 | 3.5 | 4 | 5 | 5 | |
| By sex2 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany female Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.6 | 2.6 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 5 | 4 | 4.5 | 5 | 6 | |
| 1 year Inflation HICP Germany male Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.8 | 2.6 | 2.6 | 3 | 2.5 | 2.5 | 2.2 | 2.5 | 3 | 2.7 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 | |
| By household income3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany Household gross income below 2,500€ per month Monthly Trimmed at -12%, +12% | 3.1 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.8 | 2.8 | 2.8 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 2.8 | 2.9 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 5 | 5 | |
| 1 year Inflation HICP Germany Household gross income 2,500€ to 4,000€ per month Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.8 | 2.8 | 3 | 3 | 2.9 | 2.9 | 2.4 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 6 | |
| 1 year Inflation HICP Germany Household gross income above 4,000€ per month Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.4 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.4 | 2.5 | 2.5 | 2.4 | 3 | 2.8 | 2.5 | 3 | 2.5 | 2.5 | 2.1 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.3 | 4 | 4 | 4 | 5 | 5 | |
| 1 year Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 2.9 | 2.9 | 3 | 2.8 | 2.5 | 2.4 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4 | 4 | 4 | 5 | 5 | |
| 3 years Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.8 | 2.8 | 2.8 | 2.6 | 2.8 | 2.8 | 2.5 | 2.5 | 3 | 3 | 2.8 | 3 | 2.6 | 2.9 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3.9 | 4 | 4 | 4 | |
| 5 years Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 3 | 3 | 2.8 | 2.9 | 3 | 3 | 3 | 2.6 | 2.7 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 4 | 4 | |
| 1 year Inflation HICP Germany total Monthly Trimmed at -24%, +24% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 2.9 | 2.8 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4 | 4 | 4 | 5 | 5.5 | |
| By region3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP East Germany (Mecklenburg-West Pomerania, Saxony-Anhalt, Brandenburg, Berlin, Thuringia, Saxony) total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.6 | 2.8 | 2.8 | 2.8 | 2.5 | 2.5 | 3 | 3 | 3 | 3 | 3 | 3 | 2.5 | 2.8 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 5 | 4.5 | 4 | 5 | 6 | |
| 1 year Inflation HICP North Germany (Lower Saxony, Schleswig-Holstein, Hamburg, Bremen) total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.2 | 2.3 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.4 | 2.5 | 2.5 | 2.8 | 2.8 | 3 | 3 | 2.7 | 2.5 | 2.2 | 2.5 | 2.9 | 3 | 3 | 3 | 3 | 3 | 3.5 | 4 | 4 | 4 | 5 | 5.1 | |
| 1 year Inflation HICP West Germany (North Rhine-Westphalia, Rhineland-Palatinate, Saarland) total Monthly Trimmed at -12%, +12% | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2.4 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 2.6 | 2.7 | 3 | 2.8 | 2.5 | 2.3 | 2.5 | 2.8 | 2.8 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 | |
| Average10 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany total Monthly Winsorisierung at 2nd and 98th percentile | 3.87 | 3.58 | 4.23 | 3.7 | 3.84 | 4.14 | 4.46 | 3.14 | 3.21 | 3.22 | 3.43 | 3.62 | 3.56 | 3.55 | 3.87 | 3.37 | 3.65 | 3.72 | 3.43 | 3.73 | 3.97 | 3.89 | 3.49 | 3.26 | 3.32 | 3.72 | 3.84 | 3.83 | 3.84 | 3.55 | 4.03 | 4.34 | 5.32 | 4.96 | 4.65 | 5.36 | 6.09 | |
| By age3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany age 16 to 39 Monthly Trimmed at -12%, +12% | 3.23 | 3.01 | 3.24 | 3.26 | 3.2 | 3.49 | 3.4 | 2.79 | 3.03 | 2.85 | 2.86 | 3.02 | 3.14 | 3 | 2.84 | 2.83 | 2.92 | 3.3 | 2.97 | 3.09 | 3.45 | 3.01 | 2.94 | 2.85 | 2.69 | 3.1 | 3.08 | 3.15 | 3.16 | 2.92 | 3.33 | 3.6 | 3.8 | 4.05 | 3.72 | 4.56 | 4.6 | |
| 1 year Inflation HICP Germany age 40 to 59 Monthly Trimmed at -12%, +12% | 3.54 | 3.28 | 3.39 | 3.16 | 3.54 | 3.69 | 3.64 | 2.76 | 2.9 | 2.8 | 3.01 | 3.03 | 3.09 | 3.03 | 3.03 | 2.92 | 2.86 | 3.26 | 3.16 | 3.2 | 3.38 | 3.15 | 3.03 | 2.88 | 2.98 | 3.23 | 2.99 | 3.29 | 3.2 | 3.08 | 3.45 | 3.77 | 4.33 | 4.34 | 4.35 | 4.7 | 5.23 | |
| 1 year Inflation HICP Germany age 60 and older Monthly Trimmed at -12%, +12% | 3.5 | 3.28 | 3.11 | 3.16 | 3.37 | 3.48 | 3.57 | 2.65 | 2.68 | 2.91 | 2.92 | 2.95 | 2.89 | 2.99 | 2.9 | 2.93 | 2.75 | 3.14 | 3.05 | 3.12 | 3.29 | 3.12 | 2.94 | 2.7 | 2.67 | 3.1 | 3.07 | 3.3 | 3.08 | 2.71 | 3.04 | 3.4 | 4.2 | 3.94 | 3.98 | 4.44 | 5.05 | |
| By education3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany university entrance or less Monthly Trimmed at -12%, +12% | 3.62 | 3.34 | 3.36 | 3.29 | 3.52 | 3.71 | 3.68 | 2.79 | 3.03 | 2.92 | 3.1 | 3.12 | 3.21 | 3.06 | 3.01 | 2.95 | 2.95 | 3.28 | 3.16 | 3.25 | 3.51 | 3.22 | 3.16 | 2.95 | 2.87 | 3.24 | 3.1 | 3.36 | 3.22 | 2.92 | 3.37 | 3.66 | 4.31 | 4.25 | 4.03 | 4.6 | 5.04 | |
| 1 year Inflation HICP Germany Bachelor Monthly Trimmed at -12%, +12% | 3.42 | 3.21 | 3.12 | 2.9 | 3 | 3.48 | 3.38 | 2.79 | 2.6 | 2.9 | 2.79 | 2.75 | 2.97 | 2.96 | 2.98 | 2.9 | 2.74 | 3.18 | 3 | 3.15 | 3.33 | 3.09 | 2.62 | 2.5 | 2.74 | 3.01 | 3.02 | 3.1 | 3.11 | 2.88 | 3.09 | 3.47 | 3.68 | 4.12 | 4.1 | 4.74 | 4.84 | |
| 1 year Inflation HICP Germany more then Bachelor Monthly Trimmed at -12%, +12% | 3.29 | 3.01 | 3.22 | 3.12 | 3.25 | 3.21 | 3.23 | 2.6 | 2.66 | 2.79 | 2.66 | 2.66 | 2.7 | 2.76 | 2.76 | 2.73 | 2.6 | 3.06 | 2.81 | 2.76 | 2.92 | 2.78 | 2.77 | 2.67 | 2.55 | 3.02 | 2.83 | 2.95 | 2.89 | 2.91 | 3.28 | 3.54 | 3.91 | 3.61 | 4.03 | 4.41 | 4.89 | |
| By sex2 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany female Monthly Trimmed at -12%, +12% | 3.65 | 3.29 | 3.4 | 3.26 | 3.51 | 3.66 | 3.7 | 2.81 | 2.96 | 2.92 | 2.99 | 3.07 | 3.19 | 3.22 | 3.06 | 3.04 | 2.96 | 3.45 | 3.26 | 3.3 | 3.55 | 3.31 | 3.11 | 2.98 | 2.91 | 3.23 | 3.24 | 3.4 | 3.27 | 2.82 | 3.41 | 3.71 | 4.37 | 4.29 | 4.11 | 4.82 | 5.14 | |
| 1 year Inflation HICP Germany male Monthly Trimmed at -12%, +12% | 3.31 | 3.1 | 3.11 | 3.13 | 3.24 | 3.45 | 3.38 | 2.67 | 2.8 | 2.79 | 2.87 | 2.94 | 2.91 | 2.81 | 2.81 | 2.75 | 2.74 | 3.04 | 2.87 | 2.99 | 3.21 | 2.88 | 2.84 | 2.66 | 2.67 | 3.06 | 2.87 | 3.09 | 3.04 | 2.99 | 3.17 | 3.49 | 3.86 | 3.97 | 3.94 | 4.35 | 4.82 | |
| By household income3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP Germany Household gross income below 2,500€ per month Monthly Trimmed at -12%, +12% | 3.96 | 3.49 | 3.57 | 3.56 | 3.85 | 3.89 | 3.91 | 2.93 | 3.04 | 3.26 | 3.15 | 3.12 | 3.32 | 3.3 | 3.32 | 3.23 | 3.22 | 3.5 | 3.36 | 3.42 | 3.69 | 3.63 | 3.07 | 3.29 | 3.37 | 3.48 | 3.15 | 3.74 | 3.3 | 2.93 | 3.34 | 3.72 | 4.45 | 4.55 | 4.26 | 5.23 | 4.54 | |
| 1 year Inflation HICP Germany Household gross income 2,500€ to 4,000€ per month Monthly Trimmed at -12%, +12% | 3.36 | 3.17 | 3.19 | 2.93 | 3.31 | 3.56 | 3.38 | 2.71 | 2.9 | 2.83 | 3.02 | 2.96 | 2.99 | 3.11 | 2.81 | 2.91 | 2.85 | 3.25 | 3.13 | 3.41 | 3.38 | 3.15 | 3.2 | 2.8 | 2.78 | 3.07 | 3.15 | 3.2 | 3.22 | 2.85 | 3.22 | 3.55 | 4.07 | 4.11 | 3.84 | 4.34 | 5.65 | |
| 1 year Inflation HICP Germany Household gross income above 4,000€ per month Monthly Trimmed at -12%, +12% | 3.35 | 3.09 | 3.17 | 3.21 | 3.21 | 3.37 | 3.42 | 2.64 | 2.8 | 2.69 | 2.77 | 2.91 | 2.91 | 2.81 | 2.82 | 2.74 | 2.7 | 3.15 | 2.9 | 2.77 | 3.18 | 2.84 | 2.77 | 2.59 | 2.48 | 3.04 | 2.95 | 2.98 | 3.03 | 2.95 | 3.3 | 3.57 | 3.93 | 3.87 | 3.89 | 4.29 | 4.57 | |
| 1 year Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3.48 | 3.19 | 3.25 | 3.19 | 3.37 | 3.55 | 3.53 | 2.74 | 2.88 | 2.85 | 2.93 | 3 | 3.05 | 3.01 | 2.93 | 2.89 | 2.85 | 3.24 | 3.06 | 3.14 | 3.38 | 3.09 | 2.97 | 2.81 | 2.79 | 3.14 | 3.05 | 3.24 | 3.15 | 2.91 | 3.29 | 3.6 | 4.1 | 4.12 | 4.02 | 4.58 | 4.97 | |
| 3 years Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3.4 | 3.29 | 3.49 | 3.16 | 3.26 | 3.4 | 3.41 | 3.08 | 3.2 | 3.29 | 3.39 | 3.19 | 3.17 | 3.24 | 3.19 | 3.13 | 3 | 3.38 | 3.3 | 3.33 | 3.56 | 3.13 | 3.21 | 3.03 | 3.12 | 3.35 | 3.5 | 3.73 | 3.59 | 3.45 | 3.63 | 3.72 | 4.16 | 4.19 | 4.29 | 4.51 | 4.57 | |
| 5 years Inflation HICP Germany total Monthly Trimmed at -12%, +12% | 3.56 | 3.46 | 3.47 | 3.51 | 3.44 | 3.4 | 3.34 | 3.27 | 3.25 | 3.44 | 3.36 | 3.37 | 3.39 | 3.46 | 3.3 | 3.23 | 3.32 | 3.54 | 3.32 | 3.4 | 3.47 | 3.42 | 3.35 | 3.31 | 3.59 | 3.63 | 3.41 | 3.59 | 3.67 | 3.63 | 3.72 | 3.85 | 4.17 | 3.85 | 4.44 | 4.56 | 4.79 | |
| 1 year Inflation HICP Germany total Monthly Trimmed at -24%, +24% | 3.69 | 3.37 | 3.55 | 3.36 | 3.6 | 3.87 | 3.91 | 2.97 | 3.07 | 3.06 | 3.1 | 3.35 | 3.32 | 3.29 | 3.26 | 3.05 | 3.12 | 3.45 | 3.3 | 3.48 | 3.7 | 3.36 | 3.22 | 3.01 | 3 | 3.42 | 3.13 | 3.49 | 3.49 | 3.26 | 3.62 | 3.85 | 4.48 | 4.44 | 4.38 | 4.99 | 5.56 | |
| By region3 | ||||||||||||||||||||||||||||||||||||||
| 1 year Inflation HICP East Germany (Mecklenburg-West Pomerania, Saxony-Anhalt, Brandenburg, Berlin, Thuringia, Saxony) total Monthly Trimmed at -12%, +12% | 3.87 | 3.18 | 3.43 | 3.05 | 3.65 | 3.87 | 3.89 | 2.97 | 3.32 | 2.88 | 3.06 | 3.12 | 3.16 | 3.27 | 3.33 | 3.12 | 3.12 | 3.3 | 3.35 | 3.5 | 3.62 | 3.41 | 3.01 | 2.97 | 3.1 | 3.49 | 3.36 | 3.59 | 3.53 | 3.29 | 3.37 | 3.76 | 4.47 | 4.64 | 4.34 | 4.77 | 5.47 | |
| 1 year Inflation HICP North Germany (Lower Saxony, Schleswig-Holstein, Hamburg, Bremen) total Monthly Trimmed at -12%, +12% | 3.26 | 3.19 | 3.27 | 3.27 | 3.27 | 3.33 | 3.29 | 2.59 | 2.69 | 2.76 | 2.9 | 2.85 | 2.95 | 3.1 | 2.63 | 2.81 | 2.9 | 3.06 | 2.88 | 3.15 | 3.3 | 3.09 | 2.9 | 2.63 | 2.54 | 3.03 | 3.1 | 3.2 | 3.04 | 2.99 | 3.23 | 3.62 | 3.74 | 4 | 3.56 | 4.73 | 4.96 | |
| 1 year Inflation HICP West Germany (North Rhine-Westphalia, Rhineland-Palatinate, Saarland) total Monthly Trimmed at -12%, +12% | 3.36 | 3.08 | 3.26 | 3.21 | 3.36 | 3.62 | 3.56 | 2.57 | 2.83 | 2.91 | 2.94 | 2.82 | 3.06 | 3 | 2.88 | 2.85 | 2.6 | 3.28 | 2.99 | 3.1 | 3.31 | 3.13 | 2.96 | 2.82 | 2.8 | 3.03 | 2.8 | 3.18 | 2.96 | 2.79 | 3.29 | 3.42 | 4.05 | 4.11 | 4.07 | 4.62 | 4.93 | |
| Households: income expectations2 | ||||||||||||||||||||||||||||||||||||||
| Median6 | ||||||||||||||||||||||||||||||||||||||
| By age3 | ||||||||||||||||||||||||||||||||||||||
| Germany age 16 to 39 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 125 | 125 | 131.25 | 125 | 125 | 125 | 150 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 175 | 166.25 | 150 | 231.25 | 125 | 125 | 143.75 | 175 | 150 | 125 | |
| Germany age 40 to 59 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| Germany age 60 and older | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 112.5 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| By education3 | ||||||||||||||||||||||||||||||||||||||
| Germany university entrance or less | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 112.5 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| Germany Bachelor | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 125 | 231.25 | 137.5 | 125 | 125 | 125 | 125 | 125 | |
| Germany more then Bachelor | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 125 | 125 | 125 | 137.5 | 125 | 125 | 137.5 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 150 | 187.5 | 150 | 125 | 210 | 150 | 150 | 225 | 125 | 125 | |
| By sex2 | ||||||||||||||||||||||||||||||||||||||
| Germany female | 125 | 106.25 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 113.75 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 57.5 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| Germany male | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 150 | 125 | 125 | 125 | 125 | 125 | 125 | |
| By household income3 | ||||||||||||||||||||||||||||||||||||||
| Germany Household gross income below 2,500€ per month | 125 | 100 | 125 | 125 | 125 | 75 | 66.25 | 125 | 125 | 125 | 125 | 125 | 112.5 | 125 | 125 | 125 | 125 | 125 | 37.5 | 100 | 62.5 | 0 | 125 | 96.25 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 100 | 125 | 50 | 125 | 100 | 125 | |
| Germany Household gross income 2,500€ to 4,000€ per month | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 100 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| Germany Household gross income above 4,000€ per month | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 132.5 | 125 | 125 | 150 | 127.5 | 175 | 150 | 137.5 | 150 | 250 | 150 | 175 | |
| Germany total | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| By region3 | ||||||||||||||||||||||||||||||||||||||
| East Germany (Mecklenburg-West Pomerania, Saxony-Anhalt, Brandenburg, Berlin, Thuringia, Saxony) total | 125 | 100 | 125 | 125 | 125 | 125 | 125 | 75 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 100 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| North Germany (Lower Saxony, Schleswig-Holstein, Hamburg, Bremen) total | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 87.5 | 125 | 125 | 125 | 125 | 112.5 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| West Germany (North Rhine-Westphalia, Rhineland-Palatinate, Saarland) total | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | |
| Average6 | ||||||||||||||||||||||||||||||||||||||
| By age3 | ||||||||||||||||||||||||||||||||||||||
| Germany age 16 to 39 | 108.08 | 99.61 | 76 | 94.94 | 93.58 | 82.06 | 106.84 | 145.68 | 82.81 | 129.99 | 101.85 | 148.15 | 133.82 | 184.23 | 153.32 | 227.42 | 176.59 | 170.46 | 95.31 | 141.15 | 94.63 | 42.98 | 95.43 | 124.07 | 168.65 | 192.99 | 154.13 | 244.95 | 219.05 | 182.62 | 280.52 | 212.65 | 122.09 | 204.37 | 120.37 | 149.38 | 112.37 | |
| Germany age 40 to 59 | 0.31 | -37.32 | 15.54 | 47.71 | 39.13 | 14.46 | 3.35 | 31.98 | 39.45 | 77.54 | 39.01 | 44.92 | 54.87 | 57.24 | 67.11 | 55.36 | 66.91 | 52.66 | 40.08 | 28.29 | -10.14 | 74.15 | 72.38 | 58.33 | 62.67 | 52.25 | 70.85 | 108.38 | 85.34 | 87.86 | 111.53 | 86.53 | 70.05 | 65.74 | 127.99 | 69.52 | 63.42 | |
| Germany age 60 and older | -34.22 | 6.51 | 2.32 | 12.5 | -20.19 | -45.68 | 29.4 | -28.21 | 0.57 | 37.02 | 52.36 | -7.78 | -9.85 | -38.11 | 17.33 | 37.24 | 56.43 | 16.51 | 25.11 | 14.3 | -29.17 | 12.56 | 8.37 | 28.84 | 41.03 | 48.11 | 32.67 | 55.75 | 57.71 | 75.76 | 54.32 | 73.19 | 44.63 | -23.7 | -6.92 | 29.64 | 5.34 | |
| By education3 | ||||||||||||||||||||||||||||||||||||||
| Germany university entrance or less | -26.81 | 20.57 | 2.86 | 30.15 | -5.17 | -5.61 | 35.89 | 29.74 | 18.19 | 78.49 | 59.83 | 37.27 | 41.54 | 72.18 | 55.57 | 41.66 | 83.02 | 63.87 | 29.1 | 27.22 | 2.7 | 24.45 | 52.93 | 44.97 | 85.92 | 71.16 | 61.18 | 99.91 | 97.62 | 86.32 | 137.89 | 75.61 | 48.18 | 58.8 | 41.08 | 51.84 | 33.13 | |
| Germany Bachelor | 40.88 | 85.21 | 79.03 | 118.6 | 106.71 | 50.17 | 77.93 | 70.04 | 97.85 | 141.96 | 139.17 | 110.07 | 67.57 | 163.9 | 125.08 | 156.74 | 125.12 | 110.58 | 89.22 | 195.6 | 60.21 | 73.94 | 60.39 | 135.63 | 129.52 | 198.2 | 151.7 | 234.21 | 143.21 | 176.52 | 324.13 | 220.76 | 167.67 | 152.73 | 174.35 | 125.81 | 84.77 | |
| Germany more then Bachelor | 48.1 | 50.12 | 100.14 | 94.41 | 118.36 | 69.16 | 57.25 | 143.68 | 43.82 | 73.18 | 56.51 | 129.09 | 176.29 | 102.68 | 140.89 | 211.68 | 116.87 | 128.96 | 130.05 | 102.85 | 69.26 | 105.05 | 113.08 | 126.77 | 88.06 | 148.75 | 151.54 | 222.98 | 192.54 | 173.49 | 103.27 | 258.84 | 152.19 | 253.66 | 230.88 | 164.08 | 169.81 | |
| By sex2 | ||||||||||||||||||||||||||||||||||||||
| Germany female | -21.37 | -5.48 | -2.83 | 23.75 | -20.23 | -18.5 | 1.76 | 36.27 | 10.43 | 66.74 | -11.08 | 27.36 | 11.41 | 62.93 | 51.73 | 67.62 | 70.05 | 52.56 | 11.18 | 21.82 | -27.33 | 15.05 | -7.55 | 46.86 | 54.14 | 30.96 | 17.72 | 110.35 | 84.66 | 76.55 | 94.28 | 102.24 | 54.88 | 94.46 | 83.21 | 34.61 | 14.62 | |
| Germany male | 24.77 | 54.23 | 65.78 | 82.17 | 98.6 | 57.61 | 95.25 | 91.24 | 73.81 | 104.79 | 134.3 | 106.05 | 129.97 | 106.18 | 112.86 | 164.72 | 133.04 | 113.2 | 100.44 | 119.77 | 68.95 | 76.47 | 134.27 | 98.18 | 144.91 | 168.63 | 159.16 | 183.55 | 169.02 | 158.65 | 231.45 | 167.35 | 107.06 | 100.53 | 97.67 | 134.78 | 125.81 | |
| By household income3 | ||||||||||||||||||||||||||||||||||||||
| Germany Household gross income below 2,500€ per month | -50.25 | -19.28 | -10.74 | 59.48 | -58.4 | 6.98 | 50.73 | 28.37 | -47.43 | 59.31 | 10.84 | 3.79 | 49.84 | -6.29 | 24.04 | 56.84 | 73.25 | 23.24 | -17.61 | 36.14 | -15.81 | -112.46 | 9.15 | -36.43 | 48.88 | 26.68 | -12.61 | 122.4 | -15.1 | 82.9 | 79.97 | 49.81 | -1.51 | -10.88 | 10.51 | -31.04 | -23.09 | |
| Germany Household gross income 2,500€ to 4,000€ per month | 10.9 | 79.84 | 31.23 | 35.68 | 34.82 | -19.77 | 12.8 | 57.95 | 54.46 | 63.76 | 56.97 | 39.18 | 48.65 | 44.21 | 81.61 | 70.17 | 68.65 | 63.92 | 43.7 | 35.22 | 12.46 | 79.72 | 78.91 | 100.41 | 82.6 | 89.48 | 105.93 | 115.5 | 132.69 | 97.8 | 160.54 | 112.4 | 92.44 | 126.49 | 45.07 | 67.6 | 36 | |
| Germany Household gross income above 4,000€ per month | 18.01 | 9.52 | 55.56 | 71.62 | 87.82 | 56.34 | 76.59 | 74.5 | 75.92 | 112.1 | 90.85 | 109.88 | 88.91 | 152.64 | 110.65 | 163.13 | 143.75 | 122.83 | 108.93 | 116.71 | 58.83 | 120.06 | 90.6 | 106.72 | 131.4 | 163.68 | 137.55 | 183.38 | 194.57 | 170.36 | 234.35 | 196.67 | 144.07 | 165.59 | 227.65 | 182.16 | 169.17 | |
| Germany total | 1.65 | 24.22 | 32.34 | 54.42 | 41.93 | 20.56 | 49.81 | 63.77 | 43.32 | 86.73 | 66.65 | 67.6 | 69.43 | 85.23 | 83 | 117.56 | 103.61 | 83.89 | 57.96 | 68.73 | 22.41 | 46.28 | 64.54 | 73.68 | 100.62 | 102.25 | 89.93 | 147.19 | 127.98 | 118.75 | 165.96 | 133.57 | 81.73 | 97.64 | 90.2 | 86.92 | 69.58 | |
| By region3 | ||||||||||||||||||||||||||||||||||||||
| East Germany (Mecklenburg-West Pomerania, Saxony-Anhalt, Brandenburg, Berlin, Thuringia, Saxony) total | 54.09 | 28.7 | -1.38 | 13.63 | 53.71 | 1.77 | 97.09 | -77.32 | 49.05 | 12 | 4.63 | 46.96 | 142.36 | 55.73 | 65.94 | 157.25 | 115.55 | 40.15 | 122.68 | 103.24 | 25.59 | -39.75 | 117.22 | 77.61 | 118.89 | 103.39 | 62.17 | 109.78 | 55.05 | 156.77 | 122.07 | 72.36 | 62.35 | 95.27 | 109.43 | 29.02 | 33.77 | |
| North Germany (Lower Saxony, Schleswig-Holstein, Hamburg, Bremen) total | 47.97 | 21.29 | 31.23 | 75.53 | 23.13 | 59.84 | -1.58 | -26.49 | 16.7 | 48.21 | 77.07 | 65.52 | 55.32 | 169.05 | 98.3 | 134.11 | 104.73 | 135.98 | 13.58 | 0.72 | 48.05 | 127.4 | 106.26 | 106.73 | 53.05 | 101.4 | 107.98 | 181.28 | 126.61 | 62.06 | 173.77 | 74.26 | 70.11 | 84.06 | 88.15 | 90.97 | 25.53 | |
| West Germany (North Rhine-Westphalia, Rhineland-Palatinate, Saarland) total | -8.01 | 116.66 | 55.97 | 52.81 | 48.2 | 53.18 | 62.11 | 148.33 | 42.52 | 106.36 | 133.13 | 75.88 | 28.17 | 36.28 | 80.53 | 110.42 | 118.48 | 98.18 | 90.75 | 71.42 | 34.1 | 36.9 | -13.75 | 49.91 | 109.83 | 82.13 | 85.86 | 173.51 | 128.18 | 168.32 | 143.73 | 189.41 | 115.19 | 50.85 | -1.99 | 81.78 | 84.6 | |
| Households: house price expectations2 | ||||||||||||||||||||||||||||||||||||||
| Median6 | ||||||||||||||||||||||||||||||||||||||
| By age3 | ||||||||||||||||||||||||||||||||||||||
| Germany age 16 to 39 | 3 | 3 | 4 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 5 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 5 | 5 | 4 | 4 | 4 | 4 | 3 | 4 | 4 | 3 | 3 | 3 | 4 | 3 | 3 | 5 | 4 | |
| Germany age 40 to 59 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 3 | 3 | 4 | 5 | 4 | 3.5 | 4 | 4 | 4 | 5 | 4 | 5 | 5 | 4 | 3.7 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 4 | 4 | |
| Germany age 60 and older | 4 | 3 | 4 | 4.5 | 3 | 4 | 5 | 4 | 5 | 4 | 4 | 4 | 5 | 4 | 4 | 5 | 4 | 4 | 5 | 4 | 4 | 5 | 3 | 3.2 | 4 | 3.5 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 4 |
Latest reading
The series on this page is monthly and runs from Apr 2019 to Sep 2026. Source: Deutsche Bundesbank.
About this data
Germany inflation expectations of households and firms, alongside consumer sentiment indices. Published monthly by the Deutsche Bundesbank and HDE, these surveys track expected inflation over one-year and three-year horizons. The series, available since 2016, provide expected HICP inflation trimmed at percentiles, as well as qualitative balances for income and house prices. Data includes detailed household breakdowns by age, sex, gross income, education level and broad German region.
Frequently asked questions
- What is the latest figure for Germany inflation expectations?
- The latest reading is 3%, for Sep 2026. That is unchanged from Aug 2026 and +0.5 pp from a year earlier.
- How far back does the Germany inflation expectations data go?
- The series on this page is monthly and runs from Apr 2019 to Sep 2026. Source: Deutsche Bundesbank. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- How are Germany inflation expectations measured?
- Germany inflation expectations are measured through direct monthly surveys of households and businesses conducted by the Deutsche Bundesbank. Respondents estimate future inflation rates over one-year and three-year horizons, with extreme responses often trimmed or winsorised to calculate the average expected HICP.
- What demographic breakdowns exist for German household expectations?
- The Bundesbank breaks down German household expectations by sex, age bracket, and educational attainment. The data is also segmented by monthly household gross income and broad geographic regions such as East, West, and North Germany.
- When did the Bundesbank start publishing inflation expectations?
- The time series for Germany inflation expectations and related consumer sentiment indicators began in 2016. The Deutsche Bundesbank and HDE publish updates to these survey balances on a monthly basis.
- What other expectations are surveyed alongside German inflation?
- Beyond inflation, the surveys ask German households and firms about their future income expectations and anticipated house price movements. The data also includes consumer sentiment indicators expressed as qualitative balances and index values.