The German Federal Statistical Office released the preliminary results of consumer prices, which rose 1.4 percent year-on-year in January. This is a considerable deceleration from 1.7 percent seen in December. The statisticians, for the January figure, have made the usual regular adjustment to a new shopping basket. For the weighting of the individual items in the price statistics, reference is now made to the shopping basket for consumer spending for 2015, noted Commerzbank in a research report.
The inflation rate in January is expected to have fallen just slightly compared to December, mainly due to lower energy prices. Gasoline and heating oil prices have dropped considerably, which is not expected to have been countered by more expensive electricity and gas, added Commerzbank.
At 15:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at 29.4489, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 6.72728 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
