Germany July preliminary CPI +3.8% vs +3.3% y/y expected

Latest data released by Destatis - 29 July 2021

• Prior +2.3%
• HICP +3.1% vs +2.9% y/y expected
• Prior +2.1%

That's a big jump in the headline reading, but fits with what the estimates suggested from the state readings earlier as mentioned here.

On the month itself, inflation jumped up by another 0.9% with HICP inflation increasing by 0.5% on the month as well. That reaffirms stronger price pressures in general, adding to base effects, and will certainly pose a bit of a headache to the ECB - not only in terms of inflation itself, but possibly some worries that this will impact businesses/consumption.

July 30, 2021 at 12:00AM

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