Germany: Annual CPI fell to 1.1% as expected

• Inflation remains subdued in October in Germany according to Destatis' data. 
• EUR/USD pair continues to fluctuate above 1.11 ahead of FOMC policy announcements. 

According to the advanced estimates published by Germany's Destatis, inflation, as measured by the Consumer Price Index, is expected to be 1.1% on a yearly basis in October following September's reading of 1.2%. This figure came in line with market expectation.

Further details of the publication revealed that inflation rose 0.1% on a monthly basis while the Harmonized CPI stayed unchanged at 0.9% on a yearly basis and edged higher to 0.1% from -0.1% on a monthly basis.

The EUR/USD largely ignored this reading and was last up 0.05% on the day at 1.1115.