The Consumer Price Index (CPI) for Germany stood at 0.8% monthly for the month of April, as expected, down from 2.5% in March. This is its most moderate percentage in three months, according to the German statistics agency Destatis.
The interannual inflation has met expectations and has risen one tenth to 7.4% from the previous 7.3%, reaching levels not seen since the fall of 1981, when oil prices also rose sharply as a result of the First Gulf War between Iraq and Iran.
The harmonized IPC has been located at 0.7% monthly and 7.8% annually, according to the market consensus.
EUR/USD Reaction
The EUR/USD has been indifferent to the German inflation data. The pair tested yesterday’s low at 1.0525 in the Asian session, but at the European open it is close to the daily high set a few minutes earlier at 1.0550. At time of writing, the euro is trading against the dollar above 1.0547, gaining 0.17% daily.
Source: Fx Street
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