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- Germany: Annual CPI edges lower to 7.5% in July vs. 7.4% expected
Germany: Annual CPI edges lower to 7.5% in July vs. 7.4% expected
- Annual HICP in Germany jumped to 8.5% in July.
- EUR/USD stays under bearish pressures, closes in on 1.0100.
Inflation in Germany, as measured by the Consumer Price Index (CPI), declined to 7.5% on a yearly basis in July from 7.6% in June, Germany's Destatis reported on Thursday. This reading came in slightly higher than the market expectation of 7.4%.
The Harmonised Index of Consumer Prices (HICP), the European Central Bank's preferred gauge of inflation, climbed to 8.5% in the same period from 8.2%, compared to the market expectation of 8.1%.
Market reaction
The shared currency struggles to find demand after this report and the EUR/USD pair was last seen losing 0.85% on the day at 1.0117.
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