Germany annual CPI inflation rises to 2.4% in May as expected
Source Fxstreet
- Annual CPI inflation in Germany edged higher to 2.4% in May.
- EUR/USD recovered to the 1.0850 area after the data.
Inflation in Germany, as measured by the change in the Consumer price Index (CPI), rose to 2.4% on a yearly basis in May, Germany's Destatis reported on Wednesday. This reading followed the 2.2% increase recorded in April and came in line with the market expectation. On a monthly basis, the CPI rose 0.1%.
The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, rose 0.2% on a monthly basis as forecast. The annual HICP increased 2.8% in the same period, up from 2.4% in April and above analysts' estimate of 2.7%.
Market reaction
EUR/USD edged higher with the immediate reaction and was last seen trading flat on the day at 1.0855.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The silver market is witnessing an unprecedented "price surge." As futures prices recorded their largest single-day gain in nearly 40 years, retail investors flocked in, with a frenzy eve
Bitcoin struggles with precarious positioning amidst macroeconomic volatility, closing the week below key support and setting the stage for potential further declines.
Santiment says XRP and Ethereum sit in a 30-day MVRV “undervalued” zone, with XRP at -5.7% and ETH at -7.6%, while Bitcoin is listed at 3.7% and XRP has rebounded above $1.9 after dipping to $1.8 on Sunday.
Gold Price Forecast: XAU/USD gains momentum to near $5,050 amid geopolitical risks, Fed uncertaintyGold price (XAU/USD) extends its upside to around $5,050 during the early Asian session on Tuesday. The precious metal gains momentum amid growing concerns about financial and geopolitical uncertainty. The US ADP Employment Change and Consumer Confidence reports will be published later on Tuesday.
Gold price (XAU/USD) extends its upside to around $5,050 during the early Asian session on Tuesday. The precious metal gains momentum amid growing concerns about financial and geopolitical uncertainty. The US ADP Employment Change and Consumer Confidence reports will be published later on Tuesday.
Last week, U.S. stocks experienced volatility triggered by Donald Trump's remarks on imposing tariffs on Europe. The Dow fell 0.53% for the week, the S&P 500 slipped 0.35%, and the Nasdaq
