German inflation accelerated in April, with the preliminary Harmonized Index of Consumer Prices (HICP) rising to 2.4% year-on-year, exceeding the forecast of 2.3%. Consumer Price Index (CPI) also increased, with the year-on-year figure at 2.2%, in line with expectations. Spain experienced a slight rise in inflation, with the Consumer Price Index (CPI) year-on-year flash figure at 3.3% and Harmonized Index of Consumer Prices (HICP) year-on-year flash figure at 3.4%. Eurozone Producer Price Expectations for April were slightly lower than in March at 5.4. Business Confidence in Spain and Germany showed mixed results, with Spain reporting a decrease to -3.9 while Germany remained stable. The United States Dallas Fed Manufacturing Business Index for April was -14.5, slightly lower than the previous month's -14.4.
πΊπΈ United States Dallas Fed Mfg Business Index (Apr) $USD Actual: -14.5 Previous: -14.4
US Dallas Fed Manufacturing Activity Apr: -14.5 (est -11.3; prev -14.4)
German inflation creeps up to 2.4% in April https://t.co/YoUZG2VKNI https://t.co/wZcourdqTt
This morning German inflation accelerated to 2.4% for the first time since December 2023 (vs exp of 2.3%), highlighting warnings by the ECB that there could be volatility on the path back to the 2% target. We saw something similar in Spain earlier, with inflation accelerating toβ¦
German inflation ticks up again as energy support ends https://t.co/Cxt8ehjzwQ via @weberalexander https://t.co/6c6KFcjFNc
Two #inflation stories can be told in Germany. First the good news: Germany's inflation rate was unchanged at 2.2% YoY in April, slightly below mkt forecasts of 2.3% as service inflation slowed to 3.4% from 3.7% but food inflation rose from -0.7% to +0.5%. Core CPI eased to 3% in⦠https://t.co/IesyoJIXda
German inflation accelerated for the first time since December, highlighting warnings by the ECB that thereβll be bumps on the path back to the 2% target https://t.co/ImpXFSEqy4
π©πͺ Germany German HICP (YoY) (Apr) $EUR Actual: 2.4% π’ Expected: 2.3% Previous: 2.3%
π©πͺ Germany German CPI (YoY) (Apr) $EUR Actual: 2.2% π΄ Expected: 2.3% Previous: 2.2%
π©πͺ Germany German CPI (MoM) (Apr) $EUR Actual: 0.5% π΄ Expected: 0.6% Previous: 0.4%
π΄ β οΈ BREAKING: GERMAN HICP YOY PRELIM ACTUAL 2.4% (FORECAST 2.4%, PREVIOUS 2.3%) $MACRO
π΄ GERMAN CPI YOY PRELIM ACTUAL 2.2% (FORECAST 2.3%, PREVIOUS 2.2%) $MACRO
GERMAN HICP MOM PRELIM ACTUAL 0.6% (FORECAST 0.6%, PREVIOUS 0.6%) $MACRO
GERMAN CPI MOM PRELIM ACTUAL 0.5% (FORECAST 0.6%, PREVIOUS 0.4%) $MACRO
π©πͺ Inflation Rate MoM Prel (Apr) Actual: 0.5% Expected: 0.6% Previous: 0.4% https://t.co/8VSfoR1F09
π©πͺ Inflation Rate YoY Prel (Apr) Actual: 2.2% Expected: 2.3% Previous: 2.2% https://t.co/8VSfoR1F09
*GERMANY PRELIM APRIL HARMONIZED CPI RISES 2.4% Y/Y; EST. +2.3%
Heads Up:π©πͺ Inflation Rate YoY Prel (Apr) due at 12:00 GMT (15min) Expected: 2.3% Previous: 2.2% https://t.co/8VSfoR1F09
Heads Up:π©πͺ Inflation Rate MoM Prel (Apr) due at 12:00 GMT (15min) Expected: 0.6% Previous: 0.4% https://t.co/8VSfoR1F09
Inflation up in four German states, pointing to modest national rise - Reuters https://t.co/Jfh3VA17fr
πͺοΏ½οΏ½ Spain Spanish Business Confidence (Apr) $EUR Actual: -3.9 Previous: -4.7
πͺπΈ Business Confidence (Apr) Actual: -3.9 Previous: -4.7 https://t.co/8VSfoR1F09
π§π· Brazil IGP-M Inflation Index (MoM) (Apr) $BRL Actual: 0.31% π’ Expected: 0.05% Previous: -0.47%
Heads Up:πͺπΈ Business Confidence (Apr) due at 11:00 GMT (15min) Previous: -5.4 https://t.co/8VSfoR1F09
Inflation up in four German states, pointing to modest national rise https://t.co/ahyEuNd8CF https://t.co/0n9Su34vnm
EURO ZONE APRIL PRODUCER PRICE EXPECTATIONS 5.4 VS REVISED 5.5 IN MARCH - EU COMMISSION.
Looks pretty bang on consensus for Germany CPI here. Core softening, but not as much as we had expected/hoped. Headline firm due to gas/base effects in energy and fuels more generally.
First Eurozone CPI out, and it's a downside surprise in Spain, albeit not hugely. German state CPIs out in 30 min. Look out for services, which should be down, and gas, which should be up.
SPANISH CPI MOM FLASH ACTUAL 0.7% (FORECAST 1%, PREVIOUS 0.80%) $MACRO
SPANISH HICP MOM FLASH ACTUAL 0.6% (FORECAST 0.7%, PREVIOUS 1.4%) $MACRO
SPANISH CPI YOY FLASH ACTUAL 3.3% (FORECAST 3.3%, PREVIOUS 3.2%) $MACRO
SPANISH HICP YOY FLASH ACTUAL 3.4% (FORECAST 3.4%, PREVIOUS 3.3%) $MACRO
SWEDISH GDP YOY ADVANCE ACTUAL -1.1% (FORECAST -0.7%, PREVIOUS -0.2%) $MACRO