The release of German inflation data is always a curious process. Before you get the National data, the states release their own figures giving you a nice heads up on what the countrywide data will be. The state of North Rhine Westphalia has just announced that inflation rose by 0.3% in August and was unchanged on the year. This is quite a way above the expectations for the national rate which economists expect to be unchanged on the month and down 0.2% y/y
Eur/Usd’s fall has been arrested at 1.4252 again and has bounced back to 1.4275. Looks like someone is very happy to see it between 1.4360 and 1.4250 for the time being.
