Germany August preliminary CPI +0.1% vs +0.1% m/m expected

Latest data released by Destatis - 30 August 2018

• Prior +0.3%
• CPI +2.0% vs +2.0% y/y expected
• Prior +2.0%

• HICP 0.0% vs +0.2% m/m expected
• Prior +0.4%
• HICP +1.9% vs +2.1% y/y expected
• Prior +2.1%

Headline readings are within estimates but the EU-harmonised reading comes in a little weaker-than-expected. The headline readings should continue to keep the belief that inflation is still on the right path and that will provide some comfort for the ECB.