Consumer inflation is expected to keep elevated in Germany, with the annual reading estimated to tick higher once again to 7.6% in May from 7.4% in April. The fact that inflation is keeping at such an elevated level is no comfort whatsoever - to households, businesses, and the ECB.
The readings here will just reaffirm that there is no let up or 'peak' talk just yet in Q2 and will vindicate the ECB to act in July.
The state readings should give a sense of how accurate the estimates will be. Here's the agenda for today:
0430 GMT - North Rhine Westphalia
0800 GMT - Brandenburg
0800 GMT - Hesse
0800 GMT - Bavaria
0800 GMT - Baden Wuerttemberg
0900 GMT - Saxony
1200 GMT - Germany national preliminary figures
Do note that the releases don't exactly follow the schedule at times and may be released a little earlier or later.
