Germany: Annual CPI unchanged at 1.7% in February as expected

• Annual HICP inflation in Germany rose to 1.7% in February.
• EUR/USD stays relatively calm below 1.1000 in early American session.

Inflation in Germany, as measured by the Consumer Price Index (CPI), is expected to stay unchanged at 1.7% on a yearly basis in February, the preliminary data published by Germany's Destatis showed on Friday. This reading came in line with market expectations. On a monthly basis, the CPI rose to 0.4% from -0.6% to surpass the analysts' estimate of 0.3%.

Further details of the publication showed that the annual Harmonized Index of Consumer Prices (HICP), the ECB's preferred gauge of inflation, ticked up to 1.7% from 1.6%.

EUR/USD reaction

The shared currency paid little to no mind to this data and the EUR/USD pair continues to trade in the negative territory a little below the 1.1000 handle in the early American session.