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28 Aug 2015
German CPI data in focus - Rabobank
FXStreet (Bali) - Rabobank reminds us that this morning in Europe, focus will be on the German State CPI data for August, ahead of the national figures later on the day.
Key Quotes
"This morning sees the release of various German State CPI data for August, but the main focus will be on the national figures released in the afternoon, which in turn give a foretaste of Monday’s eurozone flash figures.'
"The consensus for HICP inflation currently stands at -0.1% MoM, owing to the decline in oil prices and a stronger euro."
"Given that inflation dynamics also weakened in August last year this would leave the annual rate unchanged at +0.1%."
"A -0.1% monthly decline seems to be a little mild, considering that the oil price in euro terms fell by around 10% in August, but we should note that the prices were sampled mid-August and therefore don’t fully reflect the lower energy prices."
Key Quotes
"This morning sees the release of various German State CPI data for August, but the main focus will be on the national figures released in the afternoon, which in turn give a foretaste of Monday’s eurozone flash figures.'
"The consensus for HICP inflation currently stands at -0.1% MoM, owing to the decline in oil prices and a stronger euro."
"Given that inflation dynamics also weakened in August last year this would leave the annual rate unchanged at +0.1%."
"A -0.1% monthly decline seems to be a little mild, considering that the oil price in euro terms fell by around 10% in August, but we should note that the prices were sampled mid-August and therefore don’t fully reflect the lower energy prices."