Flash CPI data for May from Germany was a key macro release from Europe scheduled for today. Report was released at 1:00 pm BST and was expected to show an acceleration in German price growth. However, state-level readings released earlier today were somewhat inconclusive - inflation indeed accelerated in Saxony, Bavaria and North-Rhine Westphalia, but has stayed unchanged or slowed in other states, compared to April's readings.
Actual data for the whole Germany somewhat confirmed market's expectations - CPI inflation accelerated from 2.2 to 2.4% in-line with expectations. However, a monthly reading showed 0.1% MoM, less than 0.2% MoM expected. Annual HICP inflation accelerated slightly more than expected.
Germany, CPI inflation for May
- CPI (annual): 2.4% YoY vs 2.4% YoY expected (2.2% YoY previously)
- CPI (monthly): 0.1% MoM vs 0.2% MoM expected (0.5% MoM previously)
- HICP (annual): 2.8% YoY vs 2.7% YoY expected (2.4% YoY previously)
- HICP (monthly): 0.2% MoM vs 0.2% MoM expected (0.6% MoM previously)
German state-level CPI readings for May
- Hesse: 1.9% YoY vs 1.9% YoY previously
- Bavaria: 2.7% YoY vs 2.5% YoY previously
- Saxony: 3.1% YoY vs 2.7% YoY previously
- North Rhine-Westphalia: 2.5% YoY vs 2.3% YoY previously
- Brandenburg: 2.9% YoY vs 3.0% YoY previously
- Baden Wuerttemberg: 2.1% YoY vs 2.1% YoY previously
EUR gained following the release with EURUSD jumping above 200-hour moving average (purple), which served as a ceiling for the pair earlier today. However, scale of the move is rather small and does not exceed 0.1% in the first minutes following the release.
Source: xStation5
عاجل: الميزان التجاري لمنطقة اليورو مختلط 💶
التقويم الاقتصادي: خطابات الفيدرالي في فيلادلفيا ومحافظي البنوك المركزية في دائرة الضوء
عاجل: بيانات التصنيع في المملكة المتحدة أقوى قليلاً من المتوقع؛ الناتج المحلي الإجمالي يتخلف قليلاً
حصاد الأسواق (16.10.2025)
