- Annual HICP in Germany edged higher to 2.1% in April.
- EUR/USD stays in a consolidation phase around 1.2130 after the data.
Inflation in Germany, as measured by the Consumer Price Index (CPI), edged higher to 0.7% (preliminary) on a monthly basis in April from 0.5% in March. On a yearly basis, the CPI rose to 2% from 1.7%.
Further details of the publication revealed that the Harmonized Index of Consumer Prices (HICP), the European Central Bank’s preferred gauge of inflation, rose to 2.1% annually, compared to analysts’ estimate of 2%.
Market reaction
This report doesn’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was posting small daily gains at 1.2131.
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