Germany March preliminary CPI +1.4% vs +1.3% y/y expected

Latest data released by Destatis - 30 March 2020

• Prior +1.7%
• CPI +0.1% vs 0.0% m/m expected
• Prior +0.4%

• HICP +1.3% vs +1.3% y/y expected
• Prior +1.7%
• HICP +0.1% vs +0.1% m/m expected
• Prior +0.6%

The softer figures here have been previewed by the state readings earlier today, as is also expected after the sharp drop in energy prices over the last few weeks. The good news is that the Saxony report still shows that core inflation remains somewhat intact - for now at least.