Flash CPI data for August from Germany was released today at 1:00 pm BST. Report was expected to show a slowdown in annual CPI as well as slight increase in price level on a monthly basis. Data from German states released earlier today confirmed that the inflation is slowing, with all states reporting lower reading compared to July. Also, flash CPI data from Spain released earlier today also hinted at a slowdown, and even a bigger-than-expected slowdown.
Actual German inflation report for August turned out to be a dovish surprise. Annual CPI slowed from 2.3% to 1.9% YoY, instead of an expected slowdown to 2.1% YoY. On a monthly basis, prices dropped 0.1% instead of climbing 0.1%. However, as such an outcome was already hinted by state-level reading, there was no major reaction on the markets. EUR ticked lower, with EURUSD remaining slightly below 1.11 mark.
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Open account Try demo Download mobile app Download mobile appGermany, flash inflation data for August
- Annual CPI: 1.9% YoY vs 2.1% YoY expected (2.3% YoY previously)
- Monthly CPI: -0.1% MoM vs 0.1% MoM expected (0.3% MoM previously)
- Annual HICP: 2.0% YoY vs 2.2% YoY expected (2.6% YoY previously)
- Monthly HICP: -0.2% MoM vs 0.0% MoM expected (0.5% MoM previously)
Germany, state-level CPI readings for August
- Hesse: 1.5% YoY vs 1.8% YoY previously
- Bavaria: 2.1% YoY vs 2.5% YoY previously
- Brandenburg: 1.7% YoY vs 2.6% YoY previously
- Saxony: 2.6% YoY vs 3.1% YoY previously
- Baden Wuerttemberg: 1.5% YoY vs 2.1% YoY previously
- North Rhine-Westphalia: 1.7% YoY vs 2.3% YoY previously
Source: xStation5
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