Germany annual CPI inflation declines to 2.2% in March

• Annual inflation in Germany declined slightly to 2.2% in March.
• EUR/USD continues to trade in daily range above 1.0800.

Inflation in Germany, as measured by the change in the Consumer Price Index (CPI), edged lower to 2.2% on a yearly basis in March from 2.3% in February, Destatis' flash estimate showed on Monday.

On a monthly basis, the CPI rose 0.3%, matching the market expectation.

The Harmonized Index of Consumer Prices in Germany, the European Central Bank's preferred gauge of inflation, rose 2.3% on a yearly basis after rising 2.6% in February. This reading came in below analysts' estimate of 2.4%.

Market reaction

EUR/USD showed no immediate reaction to this report and was last seen trading marginally lower on the day at 1.0820.