Germany June preliminary CPI +7.6% vs +8.0% y/y expected

  • Latest data released by Destatis - 29 June 2022
  • Prior +7.9%
  • HICP +8.2% vs +8.8% y/y expected
  • Prior +8.7%

The result is well within estimates of what the state readings offered earlier. Of note, headline monthly consumer inflation rose by just 0.1% while the EU-harmonised reading actually fell by 0.1%. The details are lacking but if the state readings are anything to go by, food inflation and gas/energy inflation remain high and that won't be too comforting.

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