Germany May preliminary CPI +0.6% vs +0.6% y/y expected

Latest data released by Destatis – 28 May 2020

  • Prior +0.9%
  • CPI -0.1% vs -0.1% m/m expected
  • Prior +0.4%
  • HICP +0.5% vs +0.4% y/y expected
  • Prior +0.8%
  • HICP 0.0% vs -0.1% m/m expected
  • Prior +0.4%

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The drop in headline annual inflation is the weakest since September 2016, as waning energy prices largely weigh on price pressures in general this month. As seen with the Saxony report earlier, core inflation should remain largely intact for the most part so I guess that’s one positive takeaway if you really want to look at it.