The parade of German state CPI numbers begins

+5.1% y/y vs +5.2% prior+0.7% m/m vs +0.5% priorWe're about 7.5 hours away from the national numbers but this is an interesting start. The consensus is a 0.4% m/m decline nationally with the year-over-year reading falling to 4.7% from 5.7%. In North Rhine Westphalia, at least,  prices are hotter tha