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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.
GERMAN DATA
German national level CPI data suggests core momentum slowed in June, driven by a significant deceleration of sequential services inflation.
- Specifically, MNI estimates SA core inflation in June was broadly around 0.20% M/M (0.35% prior), services inflation at around 0.17% (0.71% prior), and headline at around 0.11% (0.17% prior).
- In annualized terms, this would imply core inflation broadly around 1.3%, services at around 2.4%, and headline inflation broadly around 2.1%.
- Besides the stall in April, the data suggests that last month, services saw the softest sequential increase since December 2023.
- All of these figures are MNI's estimates of the Bundesbank's seasonally-adjusted sequential figures to be published later this afternoon, which will provide more detail. Note that there is some elevated uncertainty around these estimates - they are intended primarily as a gauge of direction.
MNI, Bundesbank
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.
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