The other state readings released around the same time:
- Hesse CPI +2.9% vs +3.6% y/y prior
- Brandenburg CPI +3.4% vs +4.6% y/y prior
- Baden Wuerttemberg CPI +3.4% vs +4.4% y/y prior
All of this is pointing to a much, much softer inflation reading in Germany for the month of November. And in all likelihood, we should see the national reading come in well below the 3.5% estimate as well as the 3.8% reading from October. It seems like we are likely to see something near 2.9% by my estimation.
