Annual inflation rate in Germany rose to 10.0% YoY in September, from 7.9% YoY in previous month and above market estimates of 9.4%.
On a monthly basis, the inflation jumped to 1.9%, from 0.3% in August and well above market estimates of 1.3%.
Harmonised Inflation Rate YoY increased to 10.90% in September from 8.8% in August, beating analysts’ estimates of 10.0%.
Higher reading was expected after earlier CPI readings from German regions showed slight deceleration/ major acceleration:
• North Rhine Westphalia: 10.1% YoY vs 8.1% YoY in August
• Baden Wuerttemberg: 9.5% YoY vs 7.3% YoY in August
• Hesse: 9.4% YoY vs 8.0% YoY in August
• Bavaria: 10.8% YoY vs 8.4% YoY in August
• Brandenburg: 9.9% YoY vs 7.9% YoY in August
• Saxony: 9.2% YoY vs 7.3% YoY in August
EURUSD saw relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 0.9720 level. Source: xStation5
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