BREAKING: EURUSD ticks higher after German CPI print

German CPI (Y/Y) Nov P: 2.3% (est 2.4%; prev 2.3%)

- CPI (M/M): -0.2% (est -0.2%; prev 0.3%)

- CPI EU-Harmonised (Y/Y): 2.6% (est 2.4%; prev 4.3%)

- CPI EU-Harmonised (M/M): -0.5% (est -0.5%; prev 0.3%)

The final results for November 2025 will be released on 12 December 2025.

Based on preliminary data from Destatis, price pressures in the energy and food sectors are declining, which reduces overall inflationary pressure in the German economy. However, the Harmonised Index of Consumer Prices (HICP) data suggests a different picture, potentially indicating that while commodity inflation is moderating, services inflation and other cost pressures may remain more persistent than headline energy and food price declines would suggest.

The HICP index measures pure price changes of a fixed basket of consumer goods and services across EU member states, calculated using standardized EU methodology to ensure comparability across countries. Unlike the German CPI, which excludes owner-occupied housing and includes games of chance, the HICP excludes both categories and follows strict quality adjustment procedures to isolate genuine price movements from changes in product quality or distribution channels.

Source: Destatis

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BREAKING: EURUSD ticks higher after German CPI print

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