November German flash CPI 1.3% vs 1.2% exp y/y

  • Prior 1.2%
  • 0.2% vs 0.1% exp m/m. Prior -0.2%
  • HICP 1.6% vs 1.3% exp y/y. Prior 1.2%
  • 0.2% vs -0.1% exp m/m. Prior -0.3%
  • Energy -0.3% from -0.5% in Oct
  • Food +3.2% vs +4.2% prior
  • Services 1.5% vs 1.2% prior
  • Household rents 1.5% vs 1.3%
  • Goods 1.1% vs 1.2% prior

Headline number up with energy, rents and services rising. Services and rents suggest some core inflation increases which will send inflation in the right direction.

EUR/USD pops 15 odd pips to 1.3606.

German CPI 28 11 2013

German CPI 28 11 2013

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