The Consumer Price Index (CPI) is a critical economic indicator that reflects inflation levels and overall economic health. A stable or slightly lower than expected CPI figure suggests that the economy is not overheating, which can be positive for equities as it implies that the central bank may not need to aggressively tighten monetary policy. For the iShares MSCI Germany ETF (EWG), which is directly influenced by the performance of the German market, this data could be seen as a positive sign, indicating a stable economic environment. However, the impact is likely to be moderate since the CPI came in very close to expectations.