Germany's inflation rate, as measured by the year-on-year change in the consumer price index (CPI), rose to 2.2% in November.
This marks an increase from October, when the rate stood at 2.0%, after remaining below 2% for two months (1.6% in September and 1.9% in August 2024). The Federal Statistical Office (Destatis) reports that a notable increase in service costs was the main cause of inflation in November. On the other hand, energy prices still reduced inflation, although not as much as they had in prior months. When comparing prices to October, consumer prices fell by 0.2% in November.
Source: Destatis
After the growth data below expectations from Japan earlier today, the first event to watch will be the Eurogroup meetings. However, the market will mainly focus on the JOLTS Job Openings report, which will be released at 14:00 GMT.
EUR/USD rose on US slowdown concerns and German fiscal reforms, while the yen strengthened past 148.
Detail
Dollar Slips to 4-Month Low as Euro, Yen, and Pound Rally (10 - 14 March)The Dollar Index extended its decline for a fifth consecutive session, reaching 103.7, its lowest level in four months, as tariff uncertainty and economic concerns weighed on sentiment. Traders now focus on the upcoming jobs report for insights into the labor market.
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