EUR sees little reaction to German inflation data

Annual inflation rate in Germany rose to 5.1% YoY in February, the highest since June 1992 from 4.9% YoY in previous month and in line with market estimates. On a monthly basis, the inflation was 0.90%, also in line with analysts' estimates of 0.9%. Covid-19-related effects such as delivery bottlenecks and significant price increases at upstream stages in the economic process as well as in energy product prices continue to have an impact. These effects are superimposed by uncertainties caused by the Russian attack on Ukraine. Harmonised Inflation Rate YoY  increased to 5,50% in February from 5.1% in January.

EURUSD saw a relatively small reaction to today’s data inflation release. The most popular currency pair continued to trade around 1.1165 level. Source: xStation5