Inflation Picking Up Nicely in Germany
Inflation is posting another decent increase in June in Germany
Skerdian Meta•Monday, June 29, 2020•1 min read
Inflation was weak already across the globe and in particular in Europe, before the coronavirus. But, as the virus spread across the globe and the lock-downs came, the sentiment turned negative and risk assets such as crude Oil tumbled. That lead to a steep decline in inflation during March and April, but in May we saw a decent increase and today’s report from Germany is showing another increase in June as the report below shows:
Germany June CPI Inflation Report
- June preliminary CPI YoY +0.9% vs +0.6% expected
- May preliminary CPI YoY+0.6%
- CPI MoM +0.6% vs +0.3% m/m expected
- May CPI MoM -0.1%
- HICP YoY +0.8% vs +0.6% expected
- May HICP YoY +0.5%
- HICP MoM +0.7% vs +0.4% expected
- May HICP MoM 0.0%
The state readings earlier provided a slight upside bias going into the release and the figures here pretty much confirms it. Price pressures improved modestly in the month of June and that is a positive takeaway at least, after having seen the headline reading slump to its lowest level since September 2016 back in May.
- Brandenburg June CPI +1.0% vs +0.9% prior
- May YoY CPI +0.9
The latest readings here reaffirm that there is a modest bounce in price pressures seen in June, and that should set up a slightly more positive bias ahead of the German national reading later today at 1200 GMT. Some other releases from Hesse and Bavaria as well:
- Hesse CPI +0.8% y/y
- Prior +0.3%
- Bavaria CPI +0.8% y/y
- Prior +0.6%
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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