Germany: Annual CPI rises to 10.4% in October vs. 10.1% expected

Inflation in Germany rose at a stronger pace than expected in October.
EUR/USD trades in negative territory at around 0.9950 after hot German CPI data.

Eren Sengezer FXStreet

Annual inflation in Germany, as measured by the Consumer Price Index (CPI), climbed to 10.4% in October from 10% in September, Germany's Destatis reported on Friday. This reading came in higher than the market expectation of 10.1%.

Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, jumped to 11.6% from 10.9%, compared to analysts' estimate of 10.9%.

On a monthly basis, the CPI and the HICP arrived at 0.9% and 1.1%, respectively, surpassing market forecasts.

Market reaction

The EUR/USD pair showed no immediate reaction to these figures and was last seen losing 0.08% on the day at 0.9955.

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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