Latest data released by Destatis - 30 July 2019

  • Prior +0.3%
  • CPI +1.7% vs +1.5% y/y expected
  • Prior +1.6%
  • HICP +0.4% vs +0.3% m/m expected
  • Prior +0.3%
  • HICP +1.1% vs +1.2% y/y expected
  • Prior +1.5%

Slight delay in the release by the source. A surprising beat in terms of the annual headline reading considering the fact that the state readings were overall softer relative to June.

The only downside is that the EU-harmonised reading fell a little bit more than anticipated but overall inflationary pressures appear to be holding steady somewhat in Germany at least.