Germany July preliminary CPI +2.0% vs +1.9% y/y expected

  • Latest data released by Destatis - 31 July 2025
Germany IL
  • Prior +2.0%
  • CPI +0.3% vs +0.2% m/m expected
  • Prior 0.0%
  • HICP +1.8% vs +1.9% y/y expected
  • Prior +2.0%
  • HICP +0.4% vs +0.4% m/m expected
  • Prior +0.1%

The key figure to watch is core annual inflation and that is seen unchanged at 2.7% in July. This will just reaffirm the pause mode by the ECB through the summer with traders also not anticipating any moves in September next.

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