Germany February preliminary CPI +1.3% vs +1.2% y/y expected
Latest data released by Destatis - 1 March 2021
- Prior +1.0%
- CPI +0.7% vs +0.5% m/m expected
- Prior +0.8%
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.
- HICP +1.6% vs +1.6% y/y expected
- Prior +1.6%
- HICP +0.6% vs +0.5% m/m expected
- Prior +1.4%
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.