German HICP yy May 2022
  • Prior was +7.4% y/y
  • HICP +8.7% y/y vs +8.0% expected
  • Prior HICP 7.8% y/y
  • CPI m/m +0.9% vs +0.5% exp
  • HICP m/m +1.1% vs +0.5% exp

These numbers are problematic for the ECB. The euro is under some pressure but it's a holiday in the US.

This is the highest reading since German reunification.