In October 2024, Germany’s annual inflation rate climbed to 2%, marking its highest level in three months and exceeding the previous month’s rate of 1.6%, which was the lowest since February 2021.
In October 2024, Germany’s annual inflation rate climbed to 2%, marking its highest level in three months and exceeding the previous month’s rate of 1.6%, which was the lowest since February 2021. This rate surpassed market expectations of 1.8%, according to preliminary data. On a month-to-month basis, Germany’s Consumer Price Index (CPI) rose by 0.4% following a flat reading in September.
The EU-harmonized inflation rate also showed notable increases, rising to 2.4% year-over-year from 1.8% in the previous month, while the monthly harmonized rate climbed by 0.4%, rebounding from a -0.1% decline in September. These figures underscore accelerating price pressures within Germany as inflation resumes an upward trend.
Source: Preliminary Estimates
The U.S. dollar extended its gains on Tuesday, weighing on major currencies and precious metals as markets digested recent trade developments and looked ahead to this week’s Federal Reserve policy decision.
DetailThe dollar index rose to 97.8 but ended the week lower, as traders weighed trade progress and awaited the Fed’s decision. The Fed is expected to hold rates steady, with two cuts priced in by year-end. The euro neared $1.175, its highest since 2021, supported by the ECB’s rate pause and geopolitical concerns. The yen edged up after a 15% tariff cap on Japanese goods, while persistent inflation kept BOJ hike expectations alive. The pound slipped to $1.347 as weak UK data fueled bets for a BoE cut in August.
Detail Euro Gains, Risk Appetite Returns (07.28.2025)U.S.–EU trade deal eased global tensions, lifting the euro and increasing risk appetite.
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