Latest data released by Destatis - 28 February 2020
- Prior +1.7%
- CPI +0.4% vs +0.3% m/m expected
- Prior -0.6%
- HICP +1.7% vs +1.6% y/y expected
- Prior +1.6%
- HICP +0.6% vs +0.4% m/m expected
- Prior -0.8%
As hinted from the state readings earlier, headline annual inflation comes in steady relative to January with the EU-harmonised reading seeing a slight uptick.
It's a decent sign for inflation pressures but once again, I'd argue that the boost in the core reading from the Saxony report earlier matters more - good for the euro and the ECB - as we look towards the euro area release next Tuesday.
