Germany September preliminary CPI Y/Y (HICP) +2.4% vs +2.2% expected

  • Latest data released by Destatis - 30 September 2025
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  • Prior +2.1%
  • HICP M/M +0.2% vs +0.1% expected
  • Prior +0.1%
  • CPI Y/Y +2.4% vs +2.3% expected
  • Prior +2.2%
  • CPI M/M +0.2% vs +0.1 expected
  • Prior +0.1%

These figures are all above consensus although it was already expected from the german state readings released earlier in the session. The more important core inflation rose to 2.8% from 2.7% in August. If there was still some dovish ECB take out there, it must be revised in light of this report.

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