December 2016 German HICP flash data report 3 January 2017
Prior 0.7%
1.0% vs 0.6% exp m/m. Prior 0.0%
CPI 1.7% vs 1.5% exp y/y. Prior 0.8%
0.7% vs 0.6% exp m/m. Prior 0.1%
2016 HICP 0.4% vs 0.1% in 2015
No surprises there after the stronger reported state numbers earlier. This is a very big jump in inflation and that's not something often seen. It smells like there's some factors giving it a boost that may wash out next month. That might be a reason why the euro isn't reacting to the numbers. We'll have to see what next month brings but I won't be shocked if we do see it fall back. If it doesn't, we could start to hear ECB hawks squawking.
Gains across all the major components.
German HICP y/y
