Saxony April CPI +2.2% vs +1.7% y/y prior
Latest data released by Destatis - 29 April 2021
The jump here owes much to base effect adjustments due to the crash in energy prices last April, but this just reaffirms that we should see a solid bump in the German national reading later in the day - around the region of +1.9% y/y to +2.0% y/y.
- Prior +1.7%
Looking at the details of the Saxony report, when you strip out energy prices i.e. core reading, there was only a slight bump from +1.3% y/y in March to +1.4% y/y in April.