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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
MNI (London)
CPI: Bbg: -0.1% m/m, 0.0% y/y; Prev (Aug): -0.1% m/m, 0.0% y/y
HICP: Bbg: -0.1% m/m, -0.1% y/y; Prev (Aug): -0.2% m/m, -0.1% y/y
- MNI's analysis of state-level CPI data from the five states that have published so far (just below 65% of national total) suggests pan-German inflation will come in weaker than market expectations.
- Our estimate points to a CPI drop of 0.2% both on a monthly and an annual basis in Sep
- The y/y HICP dropped to -0.1% in Aug which is the lowest level since May 2016.
- Aug's downtick was mainly driven by the German VAT cut, which was implemented in July and has had a negative effect ever since.
- Energy prices showed a smaller y/y decline in Aug, while food prices continued to increase modestly.
- Survey evidence also suggests subdued prices:
- The recently released flash composite PMI noted that prices charged for goods and services fell for the seventh consecutive month in Sep.
- CPI release for Brandenburg is scheduled for Sep 30 (Statistik Berlin Brandenburg)
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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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