Germany real effective exchange rate and price competitiveness
Bundesbank indicators of Germany's price competitiveness against euro-area countries, 28 industrial countries, 37 and 60 trading partners (1999 Q1=100), based on consumer prices or on deflators.
| Indicator | 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 | 08-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Euro area countries | 94.8 | 94.7 | 94.5 | 94.5 | 94.7 | 95 | 94.8 | 95.1 | 94.9 | 95 | 95.1 | 95 | 94.8 | 94.8 | 95 | 95.2 | 95 | 94.8 | 94.8 | 94.8 | 95.2 | 95 | 95.2 | 95 | 94.9 | 95.1 | 95.2 | 95.3 | 95.2 | 95.1 | 95 | 95 | 95 | 95.1 | 94.9 | 95.1 | 95.1 | |
| 28 selected industrial countries | 99.1 | 98.7 | 98.5 | 98.8 | 99.3 | 99 | 99.1 | 99.2 | 99.1 | 99.1 | 99.1 | 99.1 | 98.8 | 98.8 | 98.5 | 98.2 | 98.1 | 97.3 | 96.5 | 96.7 | 97 | 97.2 | 97.7 | 97.9 | 97.9 | 98.1 | 97.8 | 98.2 | 97.9 | 97.8 | 97.5 | 97.5 | 97.4 | 97.9 | 97.3 | 97.7 | 97.9 | |
| 28 selected industrial countries excluding the euro area countries | 105.6 | 104.8 | 104.7 | 105.5 | 106.4 | 105.1 | 105.5 | 105.5 | 105.6 | 105.3 | 105.1 | 105.4 | 104.8 | 104.8 | 103.6 | 102.4 | 102.6 | 100.8 | 98.7 | 99 | 99.2 | 100 | 101.3 | 101.9 | 102.1 | 102.3 | 101.6 | 102.4 | 101.7 | 101.6 | 100.9 | 101 | 100.8 | 101.8 | 100.4 | 101.1 | 101.9 | |
| 37 trading partners | 92.5 | 92.2 | 92 | 92.4 | 92.9 | 92.8 | 92.8 | 93 | 93 | 92.9 | 93 | 93.2 | 92.9 | 93 | 92.6 | 92.2 | 92.4 | 91 | 90.1 | 90.2 | 90.6 | 90.8 | 91.2 | 91.3 | 91.4 | 91.6 | 91.4 | 91.5 | 91.3 | 91.3 | 91 | 91 | 90.7 | 91.2 | 90.8 | 91.3 | 91.4 | |
| 60 trading partners | 92.7 | 92.3 | 92.1 | 92.6 | 93.1 | 93 | 93.1 | 93.2 | 93.3 | 93.2 | 93.4 | 93.6 | 93.3 | 93.3 | 92.9 | 92.5 | 92.8 | 91.2 | 90 | 90.2 | 90.6 | 90.9 | 91.4 | 91.6 | 91.7 | 91.8 | 91.6 | 91.7 | 91.6 | 91.6 | 91.3 | 91.3 | 91.1 | 91.5 | 91.1 | 91.6 | 91.9 |
Latest reading
Euro area countries stood at 94.8 in Aug 2026. That is +0.1% from Jul 2026 and unchanged from a year earlier. The series on this page is monthly and runs from Jan 1961 to Aug 2026. Source: Deutsche Bundesbank.
- Latest
- 94.8
- Aug 2026
- vs previous period
- +0.1%
- Jul 2026
- vs a year earlier
- 0.0%
About this data
Bundesbank indicators of Germany's price competitiveness against euro-area countries, 28 industrial countries, 37 and 60 trading partners (1999 Q1=100), based on consumer prices or on deflators. A rise means a loss of competitiveness. Unlike the euro's effective exchange rate, these also capture price differences inside the euro area.
