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BREAKING: German inflation reading surprises downward!

2:02 PM 3 January 2023

1:00 pm GMT - Germany, CPI inflation for December. Actual: 8,6% YoY. Expected: 9.1% YoY. Previous: 10.0% YoY

Report as expected indicated a major deceleration of inflation level in Germany. State-level data released this morning confirmed it. EUR/USD currency pair was unmoved shortly after publication. 

German state-level CPI readings for December

  • North Rhine Westphalia: 8.7% YoY vs 10.4% YoY previously
  • Bavaria: 9.2% YoY  vs 10.9% YoY previously
  • Brandenburg: 9.1% YoY vs 10.5% YoY previously
  • Hesse: 8.1% YoY vs 9.7% YoY previously
  • Saxony: 8.7% YoY vs 9.9% YoY previously

 

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