Germany April preliminary CPI +0.8% vs +0.7% y/y expected

Latest data released by Destatis - 29 April 2020

• Prior +1.4%
• CPI +0.3% vs +0.1% m/m expected
• Prior +0.1%

• HICP +0.8% vs +0.5% y/y expected
• Prior +1.3%
• HICP +0.4% vs +0.1% m/m expected
• Prior +0.1%

Headline annual inflation slumps to its weakest level since November 2016, as the fall in energy prices last month exacerbates inflation pressures everywhere. Given the economic fallout from the virus outbreak and the fact that oil prices are still largely subdued, expect these soggy readings to continue over the next few months.