February 28, 2025 09:05 GMT
EUROPEAN INFLATION: German state CPIs broadly in line with exp at first glance
EUROPEAN INFLATION
- So far the M/Ms are coming in between 0.3-0.6%.
- The Y/Ys are a bit more mixed showing decelerations from -0.2ppt vs last month to +0.2ppt accelleration.
- National CPI (non-HICP) expectations were for a 0.4%M/M increase and for the Y/Y print to remain at 2.3%.
- So there isn't a clear signal from the first few states that are reporting here.
- This looks broadly in line with expectations.
- For HICP (which doesn't always follow surprises in the national CPI), the consensus made ahead of these releases was for 0.5%M/M and a 0.1ppt deceleration to 2.7%Y/Y.
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