According to the recent report published by Destatis, which is Germany’s official statistical agency, Germany’s consumer inflation growth rate accelerated up by 0.1% in June 2016 relative to May 2016. Despite the acceleration, the rate of consumer inflation is still way below the 2% inflation target set by the European Central Bank, Masterforex-V Academy experts say.
So, as we have just mentioned, the consumer price index (CPI) increased by 0.1% in June relative to May. As for the same CPI figures for June 2016 relative to June 2015, this was a 0.2% increase.
For now, it is clear that consumer inflation is curbed mainly by cheaper energy prices. To be more specific, energy prices shrank by 6.4% in June 2016 relative to June 2015 against May’s 7,9% drop. At the same time, food prices gained 0.1% over the same reporting period. Vegetables got 4.6% more expensive, with potatoes being the leader with a 19,1% price increase.
FOREX
Masterforex-V Academy experts say that the common European currency is still rallying against the U.S. Dollar within the scope of a recovery move against the existing long-term downtrend.
For now, the key levels of resistance are represented by such levels as 1.1199, 1.1166, and 1.1186. At the same time, the key levels of support are represented by such levels as 1.1001, 1.0970, and 1.0911.
