• Prior +10.4%
  • CPI -0.5% vs -0.2% m/m expected
  • Prior +0.9%
  • HICP +11.3% vs +11.3% y/y expected
  • Prior +11.6%
  • HICP 0.0% vs +0.1% m/m expected
  • Prior +1.1%

The softer reading already preluded by the state readings earlier in the day. This still sees German consumer price inflation hold at double-digits for now but it is a welcome drop ahead of the winter. However, as noted here with Spain's report, the developments are largely to do with energy and core prices are likely to have held up on the month.