- Prior +7.9%
- CPI +1.9% vs +1.3% m/m expected
- Prior +0.3%
- HICP +10.9% vs +10.0% y/y expected
- Prior +8.8%
- HICP +2.2% vs +1.3% m/m expected
- Prior +0.4%
And there we have it, double-digit inflation in Europe's biggest economy. The upside risk to the report was already well documented by the big surges in the state readings earlier. If you're wondering about what is causing the jump, a big part of that is due to the fact that government subsidies wore off at the end of August (warned about last month here).
It's a disastrous figure for the ECB to be dealing with and a cap on gas prices is arguably the only solution to really address the problem in a more immediate fashion. But we all know very well the pace in which lawmakers in Europe work with.