- Prior +5.1%
- CPI +2.5% vs +1.6% m/m expected
- Prior +0.9%
- HICP +7.6% vs +6.7% y/y expected
- Prior +5.5%
- HICP +2.5% vs +1.8% m/m expected
- Prior +0.9%
Up, up, and away. German inflation skyrockets although this was already expected from the state readings earlier, as outlined here. The headline reading is the highest since 1981.
It's a brutal set of numbers and this will provide little comfort to both consumers and the ECB. We know that the Russia-Ukraine war has exacerbated underlying conditions but this is rather vicious. Just be wary that even the month-on-month readings are showing strong increases over the past few months, so this isn't so much your "base effect" issue. The details:
