Germany August preliminary CPI +6.1% vs +6.0% y/y expected

  • Latest data released by Destatis - 30 August 2023
  • Prior +6.2%
  • CPI +0.3% vs +0.3% m/m expected
  • Prior +0.3%
  • HICP +6.4% vs +6.3% y/y expected
  • Prior +6.5%
  • HICP +0.4% vs +0.3% m/m expected
  • Prior +0.5%

The headline reading is a touch above estimates but still below the July reading at least. And that comes after the mixed state readings from earlier today. Looking at core inflation, it is seen at 5.5% year-on-year - which is unchanged from the month before. So, not much reason for the ECB to let up just yet.

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