December 2015 German HICP flash 0.2% vs 0.4% exp y/y

Details of the December 2015 German HICP inflation flash data report 4 January 2016

• Prior 0.3%
• 0.0% vs 0.2% exp m/m. Prior 0.1%
• CPI 0.3% vs 0.6% exp y/y. Prior 0.4%
• -0.1% vs +0.2% exp m/m. Prior +0.1%

Worse than expectations and last month. That's not what the ECB wants to see. The Euro is unfazed though and only slips around 6 pips

German HICP y/y

These numbers might have more than a few people scaling back tomorrow's Eurozone HICP flash