• Baden-Wuerttemberg CPI +9.5% y/y
  • Prior +7.3%
  • Brandenburg CPI +9.9% y/y
  • Prior +7.9%
  • Hesse CPI +9.4% y/y
  • Prior +8.0%

This just confirms a big spike in German inflation for the month of September, owing to the expiry of government subsidies at the end of August. The jump across the state readings so far are around the region of ~2% on an annual basis, so that could lead to an upside surprise in the national reading later today.