Germany February preliminary CPI +1.3% vs +1.2% y/y expected

Author: Justin Low | Category: News

Latest data released by Destatis - 1 March 2021

  • Prior +1.0%
  • CPI +0.7% vs +0.5% m/m expected
  • Prior +0.8%
  • HICP +1.6% vs +1.6% y/y expected
  • Prior +1.6%
  • HICP +0.6% vs +0.5% m/m expected
  • Prior +1.4%
This fits with expectations from the state readings earlier, as German inflation ticks a little higher in February. Base effects and higher input cost inflation are also part of the story here, so that sort of distorts the true nature of the rise.

Expect a more choppy (and potentially higher) trend in 1H 2021 but policymakers at the ECB should continue to brush that aside as they have done so far this year.
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