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Monday, June 21, 2021

Germany April preliminary CPI +2.0% vs +1.9% y/y expected

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Latest data released by Destatis – 29 April 2021

  • Prior +1.7%
  • CPI +0.7% vs +0.5% m/m expected
  • Prior +0.5%
  • HICP +2.1% vs +2.0% y/y expected
  • Prior +2.0%
  • HICP +0.5% vs +0.4% m/m expected
  • Prior +0.5%

A slight beat on estimates but within the range as seen with the state readings as outlined here earlier in the day. In any case, as noted in the Saxony report, the uptick in annual inflation comes largely due to base effect adjustments. This is largely due to the crash in energy prices last April amid the hit from the pandemic at the time.
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