Germany: Annual CPI inflation jumps to 10% in September

As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10% in September from 7.9% in August, Germany’s Destatis reported on Thursday. This reading came in higher than the market expectation of 9.4.

Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, jumped to 10.9% from 8.8%, compared to analysts’ estimate of 10%.

The EUR/USD pair continues to trade above 0.9700 after the German inflation data.