Annual CPI declines to 8.6% in December vs. 9% expected – Crypto News – Crypto News
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Annual CPI declines to 8.6% in December vs. 9% expected – Crypto News

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3 years ago

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  • Inflation in Germany declined at a stronger pace than expected in December.
  • EUR/USD continues to trade deep in negative territory below 1.0550.

Inflation in Germany, as measured by the Consumer Price Index (CPI), declined to 8.6% in December’s flash estimate from 10% in November. This reading came in lower than the market expectation of 9%. On a monthly basis, the CPI was down 0.8% in December.

Meanwhile, the Harmonized Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, edged lower to 9.6% on an annual basis from 11.3%, compared to analysts’ estimate of 10.7%.

Market response

EUR/USD showed no immediate reaction to these figures and the pair was last seen losing 1.2% on the day at 1.0535.

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