Lower CPI reading from Sweden 📊Drop in German wholesale prices

German Wholesale Price Index MoM: -0.8% (Previous 0.3%)

• German Wholesale Price Index YoY: -1.1% (Previous -0.1%)

Sweden CPI (August) YoY: 1.9% (Forecast 2.1%, Previous 2.6%)

• Sweden CPI (August) MoM: -0.6% (Forecast -0.4%, Previous 0.1%)

Today, readings from main, European economies points to lower domestic demand on goods (Germany) and further disinflationary pressure in Sweden, where yearly CPI inflation came in below 2%. Almost 1% monthly drop in German wholesale prices may be a signal, that also Eurozone inflation will be headed lower next months, reaching ECB 2% goal faster than expected. Euro strengthened vs Swedish krone as Swedish CPI data came in much lower than anticipated by markets.

Source: xStation5