Germany: Inflation unexpectedly slows in June from 8.7% to 8.2%

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  • Preliminary data shows a slowdown in Germany’s annual rate of inflation.
  • Consumer Price Index rises 0.1% in June, less than the 0.3% expected.
  • Euro unaffected, German bond yields down.

The Harmonized Index of Consumer Prices unexpectedly fell 0.1% in June, against expectations of a 0.2% rise, after rising 1.1% in May. The annual rate went from 8.7% to 8.2%, and an increase to 8.8% was expected.

The Consumer Price Index (non-harmonized) it rose 0.1%, also below expectations of 0.3% and 0.9% in May. The annual rate went from 7.9% to 7.6%.

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The data did not generate a great surprise since it had been partly anticipated by regional readings.

A new estimate of US GDP growth for the first quarter will be released in minutes, expected to show no change from the previous reading of -1.5%. Later at 13:00 GMT a discussion panel will begin in the framework of the forum of the European Central Bankwhich will include Christine Lagarde (President of the European Central Bank), Jerome Powell (President of the Federal Reserve) and Andrew Bailey (Governor of the Bank of England).

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Source: Fx Street

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