Germany May preliminary CPI +2.6% vs +2.9% y/y expected

• East +2.9%
• HICP +2.7% vs +2.8% y/y expected
• East +2.9%
• Core CPI Y/Y +2.5% vs +2.3% prior

Inflation readings from German states released earlier in the day were much lower than the previous month, so a notable miss in the national measure was expected.

This is due to falling energy prices, but the ECB is more focused on underlying inflationary pressures and the risk of second-round effects if the situation in the Strait of Hormuz persists longer than expected.

This article was written by Giuseppe Dellamota on investlive.com.



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