MNI China Daily Summary: Thursday, July 11

MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

June CPI Preview – Services Expected To Reverse May Acceleration

EZ/UK Bond Supply Calendar: EU-Bond Auction, BoE APF on Monday

CPI Details Show Disinflation Tapering Off for High-Rate Items (2/2)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Brandenburg / Berlin Oct CPI Consistent With National Disinflation

GERMAN DATA
The Brandenburg / Berlin CPI release today came well ahead of expectations - German state (and national) Oct flash CPI is due out Monday. The state release is here.
  • The 4.6% Y/Y reported by Brandenburg is a deceleration from 5.6% in Sept, led by energy prices (-3.2% Y/Y). CPI was 5.2% ex-food and energy (5.6% Y/Y prior). Berlin came in at 4.2%, vs 5.1% prior (3.8% ex-food and energy vs 4.1% prior).
  • Services were negative M/M in both, including in categories in closely eyed areas in the national print such as package holidays and transport, though positive Y/Y.
  • The M/M figures were -0.2% headline/ 0.0% core for Berlin, 0.0% headline / +0.1% for Brandenburg.
  • Berlin makes up around 6% of the national German weighting, with Brandenburg a further 3%. The figures are in line with expectations for the national print to soften vs September. German headline CPI consensus is 4.0% Y/Y vs last month's 4.5% with core 4.6%.
  • We would caution about reading too much into this data - Berlin and Brandenburg both heavily overstated the case on national headline in September, with Berlin undershooting on core and Brandenburg overshooting. Other similar sized states were much closer to the mark (Rhineland-Palatinate, Lower Saxony).
BulletHomepageMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.