Germany annual CPI inflation holds steady at 2.3% in February as expected

Annual inflation in Germany held steady at 2.3% in February.
EUR/USD continues to trade in daily range near 1.0400.

Eren Sengezer FXStreet

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), held steady at 2.3% on a yearly basis in February, Destatis' flash estimate showed on Friday. This reading came in line with the market expectation.

On a monthly basis, the CPI rose by 0.4% after falling 0.2% in January.

The Harmonized Index of Consumer Prices in Germany, the European Central Bank's preferred gauge of inflation, rose by 2.8% on a yearly basis, matching January's increase.

Market reaction

EUR/USD showed no immediate reaction to this report and was last seen trading marginally higher on the day at around 1.0400.

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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