- HICP inflation in Germany declined unexpectedly in June.
- EUR/USD continues to fluctuate above 1.0500 after the data.
Inflation in Germany, as measured by the Harmonized Index of Consumer Prices (HICP), declined to 8.2% on a yearly basis in June’s flash estimate from 8.7% in May. This print came in lower than the market expectation of 8.8%. On a monthly basis, HICP declined by 0.1%.
Similarly, the annual Consumer Price Index (CPI) declined to 7.6% from 7.9% in the same period, compared to analysts’ estimate of 8%.
The EUR/USD pair showed no immediate reaction to these figures and was last seen trading flat on the day at 1.0522.