Wintershall Dea AG

Largest German producer, international operations

Germany's inflation rate, measured as the year-on-year change in the consumer price index, stood at 2.8 percent in October 2026, according to the Federal Statistical Office (Destatis). The Wiesbaden-based agency confirmed its preliminary figures, showing the pace of consumer price increases slowed from 3.3 percent in September 2026 and 2.9 percent in August 2026.

Destatis President Ruth Brand said the rate had returned to just under three percent in October, and that energy price developments remained the main driver of the still-elevated inflation rate, although the fuel discount reintroduced at the start of October likely dampened price pressure somewhat. On a monthly basis, consumer prices fell 0.2 percent compared with September 2026. The harmonised index of consumer prices also rose 2.8 percent year on year and declined 0.1 percent month on month, with both preliminary results confirmed.

Energy product prices were 12.2 percent higher in October 2026 than in October 2025, a slower pace than in the preceding months, when energy inflation had steadily increased: 14.9 percent in September, 10.5 percent in August and 8.3 percent in July 2026. Destatis attributed the development to crude oil market price movements observed since the start of the Iran war. The new fuel discount that took effect on 1 October 2026 likely had a dampening effect on the annual energy price increase.

Fuel prices rose 28.9 percent year on year, less sharply than the 37.1 percent increase recorded in September 2026. Light heating oil was 84.5 percent more expensive than a year earlier, following a 74.9 percent rise in September, while firewood, wood pellets and other solid fuels rose 14.5 percent. Electricity prices fell 5.2 percent and natural gas excluding operating costs declined 1.2 percent year on year, developments Destatis said were partly due to measures implemented by the federal government since the start of the year.

Food prices rose 0.4 percent year on year in October 2026, unchanged from September and below the overall rate. Eggs were 15.4 percent more expensive, fresh vegetables including potatoes rose 11.5 percent, and fish, fish products and seafood increased 4.5 percent. Prices fell for edible fats and oils by 9.1 percent, including an 18.9 percent drop for butter, while dairy products declined 4.7 percent and fresh fruit fell 2.8 percent.

Excluding energy, the inflation rate was 2.0 percent, and excluding heating oil and fuels it was 1.7 percent. Core inflation, which excludes both food and energy, stood at 2.1 percent in October 2026, down from 2.4 percent in each month from July to September, and remained below the overall rate.

Goods prices overall were 3.0 percent above the prior-year level. Consumer goods rose 4.7 percent, driven mainly by energy prices, while durable goods increased 0.3 percent. Notable annual increases included information processing equipment at 9.9 percent and tobacco products at 5.9 percent. Price declines were recorded for games, toys and hobby goods at 8.1 percent, coffee, tea and cocoa at 3.9 percent, and household appliances at 2.2 percent.

Services prices rose 2.5 percent year on year, a slight further slowdown that left them below the overall rate. Services of social institutions increased 6.0 percent, vehicle maintenance and repair rose 4.9 percent, and hairdressing and other personal care services were up 4.4 percent. Water supply and other services for the dwelling rose 3.9 percent, while package holidays and restaurant services each increased 2.9 percent. Net cold rents, significant for overall price development, rose 1.9 percent, while telecommunications services were unchanged at 0.0 percent.

Compared with September 2026, the overall consumer price index fell 0.2 percent in October 2026. Energy prices declined 2.1 percent month on month, with fuels down 5.5 percent, including a 5.8 percent drop for super petrol and 5.1 percent for diesel, as consumers benefited from the new fuel discount. Light heating oil became 4.6 percent more expensive within the month. International flights rose 11.8 percent, while package holidays abroad became 2.4 percent cheaper. Food prices were nearly unchanged at 0.1 percent.

Destatis noted that the harmonised index is the central measure for quantifying price stability in European monetary policy and is derived from the same data as the national index, though the two differ in scope, methodology and weighting. Since January 2026, significant methodological and classification changes have been implemented in the harmonised index, which is reported on an index base of 2025 equals 100 from the January 2026 reporting month.

Interactive table based on the Store Companies dataset for this report.

Market Size, Growth and Scenario Framing

How the Market Splits Into Decision-Relevant Buckets

Where Demand Comes From and How It Behaves

Leading Players and Strategic Archetypes

German subsidiary of Canadian parent, key domestic operator

Part of Engie group, active in Northwest Germany

Historical producer, assets now part of Wintershall Dea

Joint venture of Shell and ExxonMobil assets

International operations with German base

Austrian company with significant German ops

Service company with production interests

Free Data: Crude Petroleum Oil — Germany