Germany December preliminary CPI -0.3% vs -0.2% y/y expected

Latest data released by Destatis - 6 January 2021

• Prior -0.3%
• CPI +0.5% vs +0.6% m/m expected
• Prior -0.8%

• HICP -0.7% vs -0.6% y/y expected
• Prior -0.7%
• HICP +0.6% vs +0.7% m/m expected
• Prior -1.0%

This just reaffirms sentiment that inflation pressures in the region are keeping more subdued towards the end of last year. The ECB has already responded with its "recalibration" package last month so let's see if things will improve this year.