North Rhine Westphalia August CPI 8.1% vs 7.8% y/y prior

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On the month, inflation in Germany’s industrial state is seen up 0.3% relative to July. This continues to reaffirm elevated price pressures and the annual reading fits with estimates of a higher print later when it comes to the national report. We’ll see what the other state readings have to offer first before getting a better picture.

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