After a slight moderation in June and July, German consumer inflation is estimated to pick back up again in August. The annual reading is expected to
After a slight moderation in June and July, German consumer inflation is estimated to pick back up again in August. The annual reading is expected to come in higher at 7.8% and that is up from the 7.5% reading last month.
All this comes before another potential round of a jump in price pressures in September once government subsidies on fuel and rail tickets expire on 31 August. I talked about this at the start of the month here.
In any case, with inflation keeping elevated and energy prices soaring across the region, it is hard to see any of the developments be of much comfort for the ECB. Their window to tighten policy is closing and policymakers could look to rush to get rate hikes in before that happens – even if they say they will hike into a recession.
Here’s the agenda for today:
0430 GMT – North Rhine Westphalia
0800 GMT – Brandenburg
0800 GMT – Hesse
0800 GMT – Bavaria
0800 GMT – Baden Wuerttemberg
0900 GMT – Saxony
1200 GMT – Germany national preliminary figures
Do note that the releases don’t exactly follow the schedule at times and may be released a little earlier or later.
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