Germany annual CPI inflation rises 2% in October vs. 1.8% expected

Market news

30 October 2024

Germany annual CPI inflation rises 2% in October vs. 1.8% expected

Inflation in Germany rose at a stronger pace than expected in October.
EUR/USD stays above 1.0800 following the German CPI data.

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), rose to 2% on a yearly basis in October from 1.6% in September, Destatis' flash estimate showed on Wednesday. This reading came in above the market expectation of 1.8%.

On a monthly basis, the CPI rose 0.4% after staying unchanged in September.

The Harmonized Index of Consumer Prices in Germany, the European Central Bank's preferred gauge of inflation, increased 2.4% on a yearly basis, up sharply from the 1.8% increase recorded in September.

Market reaction

EUR/USD recovered slightly from session lows after these data and was last seen trading flat on the day near 1.0820.

UK's Reeves: Will freeze fuel duty next year

Germany Consumer Price Index (YoY) above forecasts (1.8%) in October: Actual (2%)

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.