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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
The Bundesbank's estimate of seasonally-adjusted February CPI released this afternoon shows some sequential progress on services disinflation after January's firm print, but core inflation ticking up further overall.
- Overall core inflation increased to +0.44% M/M (5.4% annualized), the third consecutive incline and slightly higher than MNI's SA estimate earlier today of 0.3-0.4%.
- Manufactured goods ex-energy drove the increase, coming in at +0.43% M/M (5.3% annualized), the second highest value since February 2023.
- Services inflation, however, showed some progress and pulled back to a still-elevated 0.36% M/M (vs 0.54% prior; 4.4% annualized), in line with MNI's estimates.
- The data affirms the narrative that underlying German inflation remains sticky, judging from core CPI.
MNI, Bundesbank
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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