The latest inflation figures from German states released around the same time:
- Hesse CPI +2.5% vs +2.4% y/y prior
- Brandenburg CPI +2.3% vs +2.4% y/y prior
- Saxony CPI +2.4% vs +3.2% y/y prior
- North Rhine Westphalia CPI +2.0% vs +2.5% y/y prior
- Baden Wuerttemberg CPI +2.3% vs +2.6% y/y prior
At the balance, the readings here are much softer than anticipated and points to downside risks to the national reading later in the day. Of note, there were negative monthly readings for Bavaria (-0.3%), Saxony (-0.4%), North Rhine Westphalia (-0.1%0, and Baden Wuerttemberg (-0.2%).
This article was written by Justin Low at www.forexlive.com.
