German states will be releasing their CPI prints for February today

Germany CPI

After the bump in German CPI to start the new year - owing to special factors here - inflation pressures are expected to keep on the higher side once again in February.

The expectation is for the headline annual reading to come in at +1.2% y/y - up from the +1.0% y/y reading seen in the first month of the year.

The bump will be more evident through 1H 2021 due to base effects as well, adding to the plunge in oil prices during April to May a year ago.

As such, expect the ECB to continue brushing all this aside and they may very well have to keep the threat of tapping into PEPP if the data starts to spur higher yields moving forward.

Here's the agenda for today:

0800 GMT - Saxony

0900 GMT - Brandenburg

0900 GMT - Hesse

0900 GMT - Bavaria

0930 GMT - North Rhine Westphalia

1100 GMT - Baden Wuerttemberg

1300 GMT - Germany national preliminary figures

Do note that the releases don't exactly follow the schedule at times and may be released a little earlier or later.