Eurozone Inflation Diverges in July: German CPI Exceeds Forecasts, Italian Inflation Moderates
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
- German July CPI rose to 2.8%, exceeding expectations.
- Italian July CPI moderated to 2.8%, matching forecasts.
- EUR/USD showed limited immediate market reaction.
Preliminary inflation data for July revealed a mixed trend across the Eurozone’s major economies. Germany’s annual Consumer Price Index (CPI) rose to 2.8%, exceeding the 2.7% market expectation and climbing from 2.3% in June. The Harmonized Index of Consumer Prices (HICP) for Germany also increased 2.8% year-on-year. In contrast, Italy’s preliminary annual CPI moderated to 2.8% in July, down from 3.0% in June and matching forecasts, primarily due to easing prices for unprocessed food and unregulated energy products. However, Italy’s HICP registered 2.9% year-on-year, slightly above the 2.8% consensus. Despite these diverging figures, the EUR/USD pair showed no immediate significant reaction, trading marginally higher following the releases.