European standard HICP dropped to 0.3% y/y and the national missed with 0.4%. Also, the m/m came out short of expectations with HICP slipping by 0.1% and the national coming out flat.
EUR/USD remains pressured but is not going anywhere fast.
Germany was expected to report a rise of 0.1% in consumer prices month over month and 0.5% year over year. The numbers are released in the national format as well as the European harmonized one known as HICP. The previous y/y inflation figures both stood on 0.4%.
EUR/USD has been trading very steadily in range, around 1.1168 ahead of the publication. The dollar remains dominant after the Jackson Hole speech by Yellen and the follow-up by Fischer.
The European Central Bank convenes next week for its rate meeting. This time, they will also release new forecasts. These predictions, which have been either too optimistic in the past have become more depressing. These inflation figures not only feed into the data for the whole eurozone but also into the forecasts.
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