German states will be releasing their CPI prints for June today
German inflation is estimated to shoot higher in July again, as price pressures continue to build in the summer and that will start to question the thought of 'transitory' inflation and how long exactly that will be.
The estimate for the national reading is for annual inflation to cross +3.0% y/y and the EU-harmonised reading to rise up to +2.9% y/y.
Given how cost inflation is still holding up as seen in the PMI readings, things aren't likely to let up any time soon and that means we should still see higher inflation pressures persist in the months ahead and likely throughout 2H 2021.
Here's the agenda for today:
0430 GMT - North Rhine Westphalia
0800 GMT - Brandenburg
0800 GMT - Hesse
0800 GMT - Bavaria
0900 GMT - Saxony
0900 GMT - Baden Wuerttemberg
1200 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.