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  • Inflation in Germany is expected to soften in August.
  • The shared currency pays little to no mind to the data.

According to the data published Germany’s Destatis, inflation, as measured by the Consumer Price Index (CPI), is expected to fall to 1.4% in August from 1.7% in July on a yearly basis, compared to analysts’ estimate of 1.5%.

On a monthly basis, the CPI dropped to -0.2% from 0.5% in the same period. Further details of the publication revealed that the Harmonized Index of Consumer Prices came in at -0.1% and 1%, on a monthly and yearly basis, respectively.  

The EUR/USD pair’s reaction to disappointing inflation data was relatively muted and it was last seen trading at 1.1073, losing 0.03% on a daily basis.