Saxony February CPI +1.3% vs +1.0% y/y prior
Latest data released by Destatis - 1 March 2021
The headline reading shows a slight tick higher relative to January, which reaffirms the expectation of a firmer reading when looking at the national report later today.
- Prior +1.0%
The details though show that core inflation isn't quite as jumpy and in fact fell from +1.4% y/y in January to +1.3% y/y in February. Base effects will continue to distort the readings through 1H 2021 for the most part, so I wouldn't look too much into the inflation trend.