Germany December final CPI +2.6% vs +2.6% y/ prelim

• Prior +2.2%
• HICP +2.8% vs +2.8% y/y prelim
• Prior +2.4%

The main concern here is that core annual inflation crept higher to 3.3% in December, up from 3.0% in November. That raises stagflation worries for the German economy at the turn of the year.