BREAKING: German inflation rate surges to 10.0% in September

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