Annual inflation in Germany, as measured by the change in the Consumer Price Index (CPI), climbed to 2.7% in March (preliminary estimate) from 1.9% in February, Germany’s Destatis reported on Monday. On a monthly basis, the CPI rose by 1.1% following the 0.2% increase recorded in February.
The Harmonized Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, was up 2.8% on a yearly basis, compared to 2% in February.
Market reaction
EUR/USD stays under bearish pressure following the German inflation data and was last seen trading at 1.1475, losing about 0.3% on a daily basis.
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