Wholesale inflation figures from Germany point to a further pickup in inflationary pressure going into the second quarter, which was aligned with recent PMI survey responses.
It’s been a quiet start to the week on the Eurozone economic calendar. After a particularly quiet Monday, wholesale inflation figures from Germany were in focus this morning.
In March, Germany’s producer price index rose by 0.9% month-on-month, following a 0.7% rise in February. Economists had forecast a 0.6% increase.
Compared with the same month a year earlier, producer prices of industrial products were up by 3.7%. This was the highest increase when compared with the corresponding month of the preceding year since Nov-2011.
According to Destatis,
Taking a closer look at prices of intermediate goods, price for raw materials saw marked increases year-on-year.
For other components,
Ahead of the inflation figures, the EUR had fallen to a pre-stat low and current day low $1.20340 before rising to a pre-release high $1.20719.
In response to the stats, the EUR fell to a post-stat low $1.20483 before rising to a post-stat and current day high $1.20800.
At the time of writing, the EUR was up by 0.16% to $1.20578.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.