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Data from Destatis. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany North Rhine Westphalia CPI YoY fell to 3.0% in November 2023
DestatisMonthlyReleased November 2023
Germany North Rhine Westphalia CPI YoY fell to 3.0% in November 2023, down 0.1% from October's 3.1% reading. The reading matched expectations. North Rhine Westphalia CPI YoY has now declined for 4 consecutive months. Over the past 3 months, North Rhine Westphalia CPI YoY averaged 3.65%, vs 5.97% in the prior 3-month window. North Rhine Westphalia CPI YoY is now the lowest in 13 months.
Latest Release
3
Actual
3.1
Consensus
3.1
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▼ Inverse | −0.59 | FOREX | Bearish EUR | → View |
| EUR/JPY | ▼ Inverse | −0.29 | FOREX | Bearish EUR | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
North Rhine Westphalia CPI YoY (Germany) was reported at 2.7% in April 2026. The reading was unchanged from the previous release. Trailing 12-month context per ETL data through March 2026. Over the past 12 months, the indicator has averaged 2.07%, ranging from 1.8% to 2.7% across 11 releases. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 2.17%, up from the prior three at 2.13%. Volatility over the past year (σ 0.28%) is comparable than the prior year (σ 0.29%).
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with EUR/USD (Bearish EUR).
WHAT TO WATCH NEXT
The next release is scheduled for May 29, 2026. Same-country events in the next 14 days include Unemployment Rate (May 29) and Unemployed Persons (May 29).
Auto-generated from current model state · Refreshes on each release · Last update March 2026.
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North Rhine Westphalia CPI YoY - DE
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About North Rhine Westphalia CPI YoY — Germany
DEFINITION
The North Rhine Westphalia CPI YoY is a key economic indicator that measures the year-over-year change in the Consumer Price Index (CPI) for the German state of North Rhine Westphalia. This indicator provides valuable insight into the rate of inflation in the region, allowing businesses and policymakers to make informed decisions regarding pricing and economic policies. It is widely used by investors, economists, and government officials to track the overall health of the economy and make predictions about future trends.
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 2.7 %. Prior reading (Mar 2026): 2.7 %. Before that (Feb 2026): 1.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/USD (Bearish EUR, r=-0.59) — a useful reference for forex-focused traders.