Warning: CPI readings from German states are due later today

After a slight jump last month, German inflation is expected to peak in September as government subsidies dissipate at the end of August. This is something I have pointed out here previously. Headline annual inflation is estimated at 9.4%y/y and will be higher than August’s 7.9%y/y.

Keep in mind that the reading could translate to a slight reaction from the euro (and bond yields) as Germany’s economic outlook continues to deteriorate, which will keep the pressure on policymakers in the months ahead. .

Here is today’s agenda:

0430 GMT – North Rhine-Westphalia
0800 GMT – Brandenburg
08:00 GMT – Hesse
0800 GMT – Bavaria
0800 GMT – Baden Württemberg
09:00 GMT – Saxony
1200 GMT – National preliminary figures of Germany

Note that releases do not exactly follow the schedule at certain times and may be released a little earlier or later.


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