Bavaria October CPI +3.7% vs +4.1% y/y prior

The other state readings released at around the same time:

• Hesse CPI +3.6% vs +4.7% y/y prior
• Baden Wuerttemberg CPI +4.4% vs +5.1% y/y prior

All the estimates are pointing to softer annual inflation readings in October compared to September. The magnitudes are still up for debate but at the balance, we might see the German national reading later come in around 3.8% to 4.0% in all likelihood.