German HICP yy
- Prior was +4.3%
- HICP m/m -0.2% vs +0.1% expected
- Prior m/m HIPC +0.2%
- CPI 3.8% y/y vs 4.0% expected
- CPI 0.0% m/m vs +0.2% expected
- Prior m/m +0.3%
A softer reading would have been baked in with the regional numbers and the market doesn’t seem to care about them as the euro hits highs.
The ECB’s Kazimir earlier today said bets on rate cuts happening in 1H 2024 are entirely misplaced… we’ll see about that.