- Annual HICP was a tad higher than expected in February at 5.5%.
- The euro didn't react, with focus much more on geopolitics right now.
German HICP inflation rose to 5.5% YoY in February, slightly above the 5.4% expected and up from January's 5.1% reading, according to a preliminary estimate released by Destatis on Tuesday. MoM, HICP inflation came in at 0.9%, slightly above the 0.8% expected and in line with January's 0.9% MoM reading.
Headline German CPI, meanwhile, rose slightly to 5.1% YoY from 4.9% in January, in line with expectations. The MoM pace of CPI was also in line with expectations at 0.9%, up from 0.4% in January.
Market Reaction
With focus very much on geopolitics right now as opposed to economic data, the broadly as expected German inflation figures haven't impacted the euro at all.