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EUROPEAN INFLATION: German CPI in line with tracking, but HICP holds up at 2.8%Y

EUROPEAN INFLATION

German national CPI in line with the MNI tracking estimate at 2.3%Y/Y.

  • However, HICP was in line with the consensus prior to this morning's soft state CPI data.
  • So even though HICP is in line with the survey estimate, the market is likely to be surprised to the upside.
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German national CPI in line with the MNI tracking estimate at 2.3%Y/Y.

  • However, HICP was in line with the consensus prior to this morning's soft state CPI data.
  • So even though HICP is in line with the survey estimate, the market is likely to be surprised to the upside.