German CPI for Dec (P) +0.1% vs 0.3% est. YoY 1.7% vs 1.9% est

Highlights of German CPI

The German CPI slowed sharply in Dec with preliminary CPI at 1.7% YoY vs 1.9% estimate. Harmonized YoY inflation also fell below 2.0% to 1.7%.

The numbers for December show:

• CPI MoM, 0.1% vs 0.3%
• CPI YoY, 1.7% vs 1.9% estimate and 2.3% last month
• CPI EU Harmonized MoM 0.3% vs 0.4% est.
• CPI EU Harmonized YoY 1.7% vs 1.9% est. and 2.2% last month

The YoY measures fell below the 2% target that the ECB targets for CPI. Energy price are being blamed for the sharp fall.