Germany January preliminary CPI +2.3% vs +2.6% y/y expected

• Prior +2.6%
• HICP +2.8% vs +2.8% y/y expected
• Prior +2.8%

This was expected given the German state readings earlier in the session. The Core inflation rate has also eased from 3.3% in December to 2.9% in January. Services inflation though remains sticky around 4.0%.