German Prelim CPI: +0.4% m/m vs +0.2% expected

Haresh Menghani FXStreet

According to the preliminary estimates released by the Federal Statistical Office (Destatis), the headline inflation rate in Germany as measured by CPI is expected to increase by 0.4% on a monthly basis, with the yearly rate expected to be at 1.7% in July 2017. Meanwhile, Harmonised Index of Consumer Prices (HICP) is also seen rising by 0.4% m-o-m and 1.5% y-o-y.

GMT	Event	Actual	Consensus	Previous
Friday, Jul 28
10:00	EUR Consumer Price Index (MoM)	0.4%	0.2%	0.2%
10:00	EUR Harmonised Index of Consumer Prices (YoY)	1.5%	1.4%	1.5%
10:00	EUR Consumer Price Index (YoY)	1.7%	1.5%	1.6%
10:00	EUR Harmonised Index of Consumer Prices (MoM)	0.4%	0.3%	0.2%

The readings surpassed consensus estimates but did little to provide any fresh bullish impetus to the shared currency, with the EUR/USD major in holding pattern above the 1.1700 handle ahead of the US Q2 GDP print.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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