Preliminary German CPI inflation rose to 3.3% y/y in September, compared with the 3.0% forecast and 2.9% in the previous month. On a monthly basis, inflation accelerated to 0.6%, versus 0.5% expected and 0.2% previously.
The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s preferred measure of inflation, also rose by 0.6% m/m and 3.3% y/y. Both readings came in above expectations.
EURUSD reacted with a modest increase after the data, which partly offset the earlier German employment report showing a decline of 12,000, compared with a forecast increase of 500 and a rise of 4,000 in the previous month.
Source: xStation5
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