Germany July preliminary CPI +2.0% vs +1.9% y/y expected
- Prior +2.0%
- CPI +0.3% vs +0.2% m/m expected
- Prior 0.0%
- HICP +1.8% vs +1.9% y/y expected
- Prior +2.0%
- HICP +0.4% vs +0.4% m/m expected
- Prior +0.1%
The key figure to watch is core annual inflation and that is seen unchanged at 2.7% in July. This will just reaffirm the pause mode by the ECB through the summer with traders also not anticipating any moves in September next.