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

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MNI: GERMAN DATA: Flash CPI & HICP (May 2019) Preview - 13:00 BST
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- CPI: Bloomberg: 0.3% m/m, 1.6% y/y; MNI Median: 0.2% m/m, 1.6% y/y; Prev
(Apr): 1.0% m/m, 2.0% y/y
- HICP: Bloomberg: 0.3% m/m, 1.4% y/y; MNI Median: 0.3% m/m, 1.4% y/y; Prev
(Apr): 1.0% m/m, 2.1% y/y
- MNI's analysis of state-level CPI data (almost 70% of national total) suggests
pan-German inflation could come in slightly softer than markets project...
- ... with our estimate pointing to CPI growth of 0.2% m/m & 1.5% y/y in May
- The reversal of the Easter timing effects which drove seasonal services prices
higher in Apr...
- ... is likely to have been the key driver of lower headline & core inflation
in May
- Headline inflation should maintain a downward trend in the coming months... 
- ... on the back of negative energy base effects and weak core inflation
dynamics

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