Forexpros – Consumer price inflation in Germany rose more-than-expected in February, official preliminary data showed on Tuesday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated by 0.7% in February, compared to expectations for an increase of 0.5%.
German consumer prices declined by 0.4% last month.
Year-on-year, German consumer price inflation accelerated at an annualized rate of 2.3%, above expectations for a 2.1% increase, after rising at a rate of 2.1% in January.
Following the release of the data, the euro held on to gains against the U.S. dollar, with EUR/USD rising 0.37% to trade at 1.3446.
Meanwhile, European stock markets were mixed to lower. Germany’s DAX eased down 0.1%, the EURO STOXX 50 shed 0.15%, France’s CAC 40 added 0.1%, while London’s FTSE 100 declined 0.15%.
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