February German HICP flash 1.0% vs 1.1% exp y/y

• Prior 1.2%
• 0.5% vs 0.7% exp m/m. Prior -0.7%
• CPI 1.2% vs 1.3% exp y/y. Prior 1.3%
• 0.5% vs 0.6% exp m/m. Prior -0.6%
• CPI goods inflation 0.6% vs 0.8% prior y/y
• CPI energy -2.7% vs -1.8% prior y/y
• CPI food 3.5% vs 3.6% prior y/y

It was coming, as we saw in the regional numbers and the only saving grace is that it looks like energy was the main driver. Still, that’s extra pressure the ECB doesn’t need ahead of the rate meeting next week. EZ inflation data is released tomorrow.

German HICP flash