Germany December final CPI +3.7% vs +3.7% y/y prelim

  • Latest data released by Destatis - 16 January 2024
  • Prior +3.2%
  • HICP +3.8% vs +3.8% y/y prelim
  • Prior +2.3%

There is no change to the initial estimates as German headline inflation ticks a little higher at the end of last year. But core prices are still seen easing, so that will provide some comfort for the ECB at least. As a whole for 2023, core annual inflation in Germany was 5.1% - much higher than the 3.8% reading in 2022.

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