Inflation Pace Slows in German States in November off Reunification Highs

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    Helmholtz Watson

    Germany’s consumer inflation slowed more than expected in November in five states, data showed on Tuesday. The European Central Bank has been raising
    [See the full post at: Inflation Pace Slows in German States in November off Reunification Highs]


    German, Italian yields heading for biggest fall in two weeks

    Investors rushed to scoop up European debt and cut bets on rate hikes after data showed prices in Germany and Spain may be slowing. 

    That sent German, Spanish and Italian 10-year yields heading for their biggest fall in two weeks. Prices in German states such as North-Rhine Westphalia slowed this month, an early indicator ahead of a national figure due at 1 p.m. London time.

    Spanish inflation also eased for a fourth month and by more than expected. Euro area inflation data due on Wednesday is also forecast to slow to 10.4%, but the core inflation figure is expected to hold steady at a record high 5%, highlighting the challenge facing policy makers.

    Money markets have still slashed odds on another three-quarter-point interest-rate hike from the European Central Bank next month, putting that at a 30% chance compared to 50% on Monday. Wagers on how high the key deposit rate will rise have also been cut to 2.90% by June, compared to 3% recently.


    Germany November final CPI +10.0% vs +10.0% y/y prelim
    Latest data released by Destatis – 13 December 2022
    HICP +11.3% vs +11.3% y/y prelim
    No changes to the initial estimates as German inflation continues to keep at double-digits, despite some easing in overall price pressures last month.

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