Berlin household Manuela is keeping her heating off as German energy costs rise, with her family's annual power, heat and hot water bill about 3,500 euros, and Berlin residential gas prices rising about 22 percent from February to September 2026. An R+V survey found 59 percent of respondents cite rising living costs as their main concern, while inflation hit 3.3 percent in September, its highest since December 2023, with energy prices up 14.9 percent. The German Chambers of Industry and Commerce warned that higher oil and gas prices could add as much as 40 billion euros to Germany's energy import bill, nearly 1 percent of GDP. Energy-intensive producers are under strain, with plastics maker LEUNA-Polyamid gradually shutting down and about 400 jobs at risk. Similar cost-of-living protests have also erupted in France, Italy and Portugal.
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EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 1.12376 |
| Change that session | +0.22% |
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A family in Berlin has switched off its heating and cut back spending, as power, heat and hot water costs run to about 3,500 euros a year. According to the Household Energy Price Index for European Capitals, residential natural gas prices in Berlin rose about 22% between February and September 2026. Germany's annual inflation rate hit 3.3% in September, its highest since December 2023, with energy prices up 14.9% and heating oil up 74.9%. The German Chambers of Industry and Commerce warned high oil and gas prices could raise the country's energy import bill by up to 40 billion euros, nearly 1% of GDP, while plastics maker LEUNA-Polyamid is gradually shutting down after failing to find an investor, putting around 400 jobs at risk. The article also notes cost-of-living protests in France, Italy and Portugal.
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