Germany: Annual CPI rises to 1.6% in June vs. 1.4% expected

• CPI on a monthly basis rises to 0.3% in June from 0.2% in May.
• Harmonised CPI stays unchanged at 1.3% on a yearly basis as expected.

According to the preliminary data published by the Destatis, inflation in Germany, as measured by the Consumer Price Index (CPI), is expected to increase to 0.3% and 1.6% in June on a monthly and yearly basis, respectively. Both of these readings came in a little above the market expectation. 

"In June 2019, the harmonised index of consumer prices for Germany, which is calculated for European purposes, is expected to increase by 1.3% year on year and by 0.1% on May 2019," the publication further read.

The EUR/USD climbed a few pips higher on these data and was last up 0.06% on the day at 1.1375.