The Harmonised Inflation Rate YoY measures the percentage change in consumer prices in Germany compared with the same period one year earlier. Compiled by Eurostat and national statistical institutes, this indicator is used to evaluate inflationary pressures and is closely monitored by the European Central Bank to maintain price stability around its 2% target.
A higher than expected figure should be seen as positive (bullish) for the EUR while a lower than expected figure should be seen as negative (bearish) for the EUR.