Latest data released by Destatis - 29 June 2021

  • Prior +2.5%
  • CPI +0.4% vs +0.4% m/m expected
  • Prior +0.5%
  • HICP +2.1% vs +2.1% y/y expected
  • Prior +2.4%
  • HICP +0.4% vs +0.4% m/m expected
  • Prior +0.3%

This falls within expectations and also what was estimated by the state readings earlier as mentioned here. Some slight moderation in the headline but that could owe to base effect adjustments being less impactful this time around.

We'll have to see how the trend takes shape in the coming months to be certain of any changes to the inflation outlook and how things are going to play out.