Germany: Annual CPI rose to 1.5% in December (preliminary) vs. 1.4% expected

• Annualy inflation in Germany is expected to rise 1.5% in December.
• Shared currency recovers modestly against USD after German CPI figures.

Inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 1.5% on a yearly basis in December from 1.1% in November, Destatis' preliminary data showed on Friday. This reading came in slightly higher than the market expectation of 1.4%.

Further details of the publication revealed that the CPI increased 0.5% on a monthly basis following November's decline of 0.8%. "The harmonised index of consumer prices for Germany, which is calculated for European purposes, is expected to increase by 1.5% year on year and 0.6% on November 2019."

The EUR/USD pair recovered modestly from session lows after the data and was last seen trading at 1.1140, where it was still down 0.25% on the day.