Forex News

15:05:46 29-02-2024

Germany annual CPI inflation declines to 2.5% in February vs. 2.6% expected

  • Inflation in Germany rose at a slightly softer pace than expected in February.
  • EUR/USD stays in negative territory below 1.0850 after the data.

Inflation in Germany, as measured by the change in the Consumer price Index (CPI), declined to 2.5% on a yearly basis in early February from 2.9% in January, Germany's Destatis reported on Thursday. This reading came in below the market expectation of 2.6%. On a monthly basis, the CPI rose 0.4%.

The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, rose 0.6% on a monthly basis. The annual HICP increased 2.7% in the same period, at a softer pace than the 3.1% growth recorded in December.

Market reaction

The EUR/USD pair edged lower with the immediate reaction and was last seen losing 0.12% on the day at 1.0823.

News provided by the portal FXStreet