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Some upside risk to national print later

GERMAN DATA
  • Looking at the German regional inflation prints so far we have three around the consensus for the national print of 0.5%M/M.
  • We have also had two high prints (Saxony at 1.0%M/M and earlier this morning BW at 1.2%M/M).
  • This probably points to some upside risks to the national number later, but it's hardly cut and dry.
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