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The German state CPI releases before the national number

Posted: Thu Oct 29, 2026 3:34 pm
by FXS London Scalper
On German CPI days several states, like North Rhine-Westphalia and Bavaria, publish their inflation numbers in the morning before the national preliminary figure. Traders use them to estimate the national number.

For a scalper this matters because:
  • EURUSD can move on the state numbers, often in small steps between 08:00 and 10:00 London.
  • By the time the national number comes out, much of the surprise is already priced in, so the reaction is often smaller than expected.
  • The timing of state releases isn't always fixed, which makes it hard to plan around.
I now treat German CPI days as days with several small news events instead of one big one. Smaller size, and no pending orders through the morning.

Does anyone track the state numbers directly? I'd be interested in a reliable source for release times.