Germany: Annual CPI in April falls to 0.8% vs. 0.6% expected

• Annual CPI in Germany comes in slightly higher than market expectation in April. 
• EUR/USD continues to trade in the positive territory near mid-1.08s.

Inflation in Germany, as measure by the Consumer Price Index (CPI), is expected to be 0.8% on a yearly basis in April, the preliminary data published by Destatis showed on Wednesday. This reading followed March's 1.3% and came in higher than the market expectation of 0.6%.

Further details of the publication revealed that the Harmonized CPI, the ECB's preferred gauge of inflation, is seen at 0.4% and 0.8% in April on a monthly and yearly basis, respectively. 

Market reaction

The EUR/USD pair largely ignored this data and was last seen trading at 1.0845, where it was up 0.25% on a daily basis.