Germany: Annual CPI rose to 1.7% in January as expected

• Annual CPI in Germany rose to 1.7% in January's advanced reading.
• EUR/USD continues to trade in green above 1.10.

Inflation, as measured by the Consumer Price Index (CPI), in Germany is expected to rise to 1.7% on a yearly basis in January after increasing 1.5% in December, the advanced data published by the Destatis showed on Thursday.

"Based on the results available so far, the Federal Statistical Office (Destatis) also reports that consumer prices are expected to decline by 0.6% on December 2019," the press release further read.

In the meantime, the Harmonized Index of CPI in January ticked up to 1.6% annually and came in at -0.8% on a monthly basis. 

EUR/USD reaction

The EUR/USD pair largely ignored this data and was last up 0.14% on the day at 1.1025.