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  • HICP inflation in Germany continued  to rise in May.
  • EUR/USD stays quiet around 1.2200 after the data.

Inflation in Germany,  as measured by the Consumer Price Index (CPI), edged lower  to 0.5% (preliminary) on a monthly basis in May from 0.7% in March, the data published by Destatist showed on Monday. On a yearly basis, the CPI rose to 2.5% from 2%.

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 2.4% annually and fell short of the market expectation of 2.5%.

Market reaction

The EUR/USD pair showed no immediate reaction to this report and was last seen posting small daily gains at 1.2200.