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
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face downside risk as bears regain control Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) remain under pressure on Wednesday, with the broader trend still sideways. BTC is edging below $68,000, nearing the lower consolidating boundary, while ETH and XRP also declined slightly, approaching their key supports.
Silver Price Forecast: XAG/USD rises to near $78.00 on safe-haven demandSilver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
Gold price (XAU/USD) holds positive ground near $5,000 during the early Asian session on Friday. The precious metal edges higher as escalating tensions between the United States (US) and Iran boost safe-haven demand.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market.
