Bavaria March CPI +7.2% vs +8.8% y/y prior | Forexlive

The other German state readings released at the same time:

• Brandenburg CPI +7.8% y/y
• Prior +8.7%
• Hesse CPI +7.1% y/y
• Prior +8.3%
• Baden-Wuerttemberg CPI +7.8% y/y
• Prior +8.7%

This matches up with what we saw from Germany’s industrial state earlier here. The lower annual readings are largely due to base effects kicking in, with March 2022 observing a massive spike in oil prices amid the Russia-Ukraine conflict. The monthly readings though continue to reflect further price increases:

• Bavaria +0.7%
• Brandenburg +1.0%
• Hesse +0.8%
• Baden-Wuerttemberg +0.9%