German annual CPI inflation declines to 2.2% in March as expected
- Annual CPI inflation in Germany softened to 2.2% in March as expected.
- EUR/USD continues to fluctuate in a tight channel near 1.0750.
Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), declined to 2.2% on a yearly basis in March from 2.5% in February, Germany's Destatis reported on Tuesday. This reading came in line with the market expectation. On a monthly basis, the CPI rose 0.4%, matching February's increase.
The Harmonized Index of Consumer Price (HICP), the European Central Bank's (ECB) preferred gauge of inflation, was up 0.6% and 2.3% on a monthly and yearly basis, respectively, in March.
Market reaction
EUR/USD showed no immediate reaction to these data and was last seen trading virtually unchanged on the day at 1.0748.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
