Germany CPI year-on-year (%)
The data today will not mean as much as it was in the few months before this. The fact is that we are seeing price pressures cool in Europe and it is enough to facilitate a June rate cut. That is the more important detail for now.
The estimate today for German headline annual inflation is for a mild increase to 2.3%. The EU-harmonised reading is expected to keep as it was in March at 2.3% as well. That doesn’t take away from the trend since last year. As such, the readings today won’t be as critical to the euro and the rates market barring any major surprises.
Here’s the agenda for today:
- 0800 GMT – North Rhine Westphalia
- 0800 GMT – Hesse
- 0800 GMT – Bavaria
- 0800 GMT – Baden Wuerttemberg
- 0800 GMT – Saxony
- 1200 GMT – Germany national preliminary figures
Do note that the releases don’t exactly follow the schedule at times and may be released a little earlier or later.