- Annual inflation in Germany declined slightly to 2.2% in March.
- EUR/USD continues to trade in daily range above 1.0800.
Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), edged lower to 2.2% on a yearly basis in March from 2.3% in February, Destatis’ flash estimate showed on Monday.
On a monthly basis, the CPI rose 0.3%, matching the market expectation.
The Harmonized Index of Consumer Prices in Germany, the European Central Bank’s preferred gauge of inflation, rose 2.3% on a yearly basis after rising 2.6% in February. This reading came in below analysts’ estimate of 2.4%.
Market reaction
EUR/USD showed no immediate reaction to this report and was last seen trading marginally lower on the day at 1.0820.
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