Inflation Dives in March in Germany, as Oil Prices Crash Down

Inflation has softened this month in Germany as expected and it should get lower next month

Written by: Skerdian Meta • Monday, March 30, 2020 • 1 min read

• Last updated: Monday, March 30, 2020

The German inflation report for March was released a while ago. It showed a considerable cool off, but that was expected, considering the economic shutdown and especially after we saw the regional figures earlier this morning. Although, this is not as bad as I would have expected.

Anyway, below is the inflation report for March:

March preliminary YoY CPI +1.4% vs +1.3% expected
February YoY CPI at +1.7%
March MoM CPI +0.1% vs 0.0% expected
February MoM CPI +0.4%

March YoY HICP +1.3% vs +1.3% expected
February YoY HICP +1.7%
March MoM HICP +0.1% vs +0.1% expected
February MoM HICP +0.6%

Besides the economic shutdown, the decline in energy prices has also played a large part in this and headline YoY CPI fell to 1.3%, from 1.7% in February. Crude Oil has crashed lower and US WTI crude is trading around the $20 level now, while EUR/USD has retreated more than 100 pips lower after the surge higher last week.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.