Germany: Annual CPI inflation rises to 7.9% in August vs. 7.8% expected
|- Inflatiın in Germany continued to rise in August.
- EUR/USD clings to modest daily gains above parity after the data.
Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany's Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%.
Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, edged higher to 8.8% from 8.5% as expected.
On a monthly basis, the CPI and the HICP arrived at 0.3% and 0.4%, respectively, matching analysts' estimates.
Market reaction
These figures don't seem to be having a significant impact on the euro's performance against its major rivals. As of writing, EUR/USD was up 0.35% on the day at 1.0030.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.