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Final April HICP Print Coming Up

GERMAN DATA
MNI (London)

German harmonised inflation is expected to confirm +0.6% m/m and +7.6% y/y flash estimates, slowing by 0.2pp from the March level of +7.8% y/y.

  • Energy prices re-accelerated in Germany in April, mirroring similar moves in French, Italian and Spanish April inflation data due to base-effects.
  • The flash CPI data pointed towards a small deceleration in the core print for Germany, after having risen to a fresh high of +5.8% y/y in March. Softer goods inflation is likely to have been the key downwards driver.

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