German HICP to pick up to 1.6% y/y in January – TD Securities
Analysts at TD Securities expect the German Preliminary Consumer Price Index (CPI) to accelerate on an annualized basis in January.
“We look for German HICP to pick up to 1.6% y/y in January (mkt 1.7%).
The contribution of energy prices should increase on base effects, while we look for core CPI to slide lower, also on base effects, after an outsized m/m gain in January 2019.
Core inflation will likely continue to be choppy this year on the back of some extraordinarily large m/m swings through spring/summer 2019 distorting the y/y measures.”