Latest data released by Destatis - 18 December 2020

  • Prior +0.1%
  • PPI -0.5% vs -0.6% y/y expected
  • Prior -0.7%

German producer prices continue to improve but this is providing little lift to overall price pressures as we see through the CPI readings. It is a modestly positive development but needs to be translated to consumer inflation for a meaningful impact.