Latest data released by Destatis – 30 March 2021
- Prior +1.3%
This matches with the upside bias seen from the other state readings and reaffirms expectations of a more positive tilt in annual inflation when we get to the German national reading later in the day at 1200 GMT.
Of note, the core reading for Saxony shows that consumer inflation is seen holding steady at +1.3% y/y – similar to that of February.
The estimate for the national reading later is +1.7% y/y and we are likely to see a reading between that and +1.9% y/y, given the bump seen in the other state readings.