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EURGBP Failed To Break 0.89

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In today’s European session, Germany’s final CPI rate for December The annual rate was 8.6%, which is in line with market expectations. This is the same as the previous value. For the second consecutive month, the final monthly rate was negative at -0.8%As per market expectations. After reconciliation, the monthly and annual CPI rates were recorded at 9.6% (down for the third month in a row) -1.2% (in negative territory once more since November 2020), unchanged from market expectations, December

According to the German Federal Statistical Office (DFSO), food and non-alcoholic beverages were the most expensive. 19.8%But, it is down from 19.9% In the preceding month, the figure was at 5.9% Last year, prices increased year-over-year. Prices for housing, water and electricity followed closely with a 9.3% Increase, decrease from 13.5% The previous month, the figure was 3.7%. The prices of alcohol and tobacco increased by 7.5%, as compared to 6.7% in the previous month. 3.6% year-on-year. Clothing and footwear prices saw a 7.5% increase in November compared with 6.7% in November. This figure was 3.6% higher than last year.

Figure 1: German Inflation rate. Source: Trading Economics

Overall, German…



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