Flash CPI data for May from Germany was a key macro release from Europe scheduled for today. Report was released at 1:00 pm BST and was expected to show an acceleration in German price growth. However, state-level readings released earlier today were somewhat inconclusive - inflation indeed accelerated in Saxony, Bavaria and North-Rhine Westphalia, but has stayed unchanged or slowed in other states, compared to April's readings.
Actual data for the whole Germany somewhat confirmed market's expectations - CPI inflation accelerated from 2.2 to 2.4% in-line with expectations. However, a monthly reading showed 0.1% MoM, less than 0.2% MoM expected. Annual HICP inflation accelerated slightly more than expected.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالGermany, CPI inflation for May
- CPI (annual): 2.4% YoY vs 2.4% YoY expected (2.2% YoY previously)
- CPI (monthly): 0.1% MoM vs 0.2% MoM expected (0.5% MoM previously)
- HICP (annual): 2.8% YoY vs 2.7% YoY expected (2.4% YoY previously)
- HICP (monthly): 0.2% MoM vs 0.2% MoM expected (0.6% MoM previously)
German state-level CPI readings for May
- Hesse: 1.9% YoY vs 1.9% YoY previously
- Bavaria: 2.7% YoY vs 2.5% YoY previously
- Saxony: 3.1% YoY vs 2.7% YoY previously
- North Rhine-Westphalia: 2.5% YoY vs 2.3% YoY previously
- Brandenburg: 2.9% YoY vs 3.0% YoY previously
- Baden Wuerttemberg: 2.1% YoY vs 2.1% YoY previously
EUR gained following the release with EURUSD jumping above 200-hour moving average (purple), which served as a ceiling for the pair earlier today. However, scale of the move is rather small and does not exceed 0.1% in the first minutes following the release.
Source: xStation5