Germany annual CPI inflation edges higher to 2.3% in July vs. 2.2% expected

CPI in Germany rose 2.3% on a yearly basis in July.
EUR/USD continues to fluctuate in a tight range above 1.0800.

Eren Sengezer FXStreet

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), rose to 2.3% on a yearly basis in July from 2.2% in June. This reading came in above the market expectation of 2.2%. On a monthly basis, the CPI rose 0.3% following the 0.1% rise recorded in June.

The Harmonized Index of Consumer Prices, the European Central Bank's preferred gauge of inflation, rose 2.6% on a yearly basis, up from 2.5% in June and above analysts' estimate of 2.4%.

Market reaction

EUR/USD showed no reaction to these figures and was last seen trading little changed on the day at 1.0825.

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.

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