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High inflation in Germany

High inflation in Germany | 31 March 2022

31 March 2022, EUR/USD

High inflation in Germany

EURUSD trading plan:

German annual inflation rose more than expected in March. Consumer prices, harmonized to make them comparable with inflation data from other European Union countries, rose 7.6% on the year after 5.5% in February, the Federal Statistics Office said. The national consumer price index rose 7.3% year on year after an inflation rate of 5.1% in February. A similarly high inflation rate in Germany was last recorded in autumn 1981, when mineral oil prices had jumped as a consequence of the first Gulf war, the statistics office said. This is a negative signal for the European currency.

Investment idea: sell 1.1144 and take profit 1.1060.

David Johnson
Analyst of «FreshForex» company
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