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MNI: GERMAN DATA: Flash CPI & HICP (Apr 2019)........>

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MNI: GERMAN DATA: Flash CPI & HICP (Apr 2019) Preview - 13:00 BST
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- CPI: Bloomberg: 0.5% m/m, 1.5% y/y; MNI Median: 0.5% m/m, 1.6% y/y; Prev
(Mar): 0.4% m/m, 1.3% y/y
- HICP: Bloomberg: 0.5% m/m, 1.7% y/y; MNI Median: 0.5% m/m, 1.6% y/y; Prev
(Mar): 0.5% m/m, 1.4% y/y
- MNI's analysis of German state-level CPI data (almost 70% of national total)
suggests a big upside surprise...
- ... our estimate points to pan-German CPI growth of 0.9% m/m & 2.0% y/y
- The later timing of Easter this year is expected to be the main driver of the
bounce-back in y/y inflation
- Looking ahead, annual inflation should start to moderate again from May...
- ... and continue to trend lower in the months ahead on the back of negative
energy base effects and weak core inflation dynamics

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