Latest data released by Destatis - 30 November 2020

  • Prior -0.1%
  • Hesse CPI -0.6% y/y
  • Prior -0.6%
  • Bavaria CPI -0.2% y/y
  • Prior -0.1%

The state readings sort of reaffirm the estimates of German inflation keeping more subdued this month, with the benchmark for the national reading set to either repeat the October release of -0.2% y/y or with a slight downside bias.

Either way, it doesn't change much of the outlook as we head towards the ECB meeting next month with the central bank going to take further easing actions.