German CPI slightly lower than expected in March
Consumer prices in Germany undershot market forecasts last month, despite the sharp acceleration seen in food costs.
Headline CPI advanced at a 0.4% month-on-month pace in March, according to the country's Ministry of Finance, bringing the year-on-year rate of gains to 1.6% (consensus: 1.7%).
In February, CPI had advanced at a clip of 1.2%.
On a harmonised basis, German CPI was up by 0.4% over the month and 1.5% year-on-year (consensus: 1.6%).
By categories, food prices saw the largest pick-up, with inflatioon accelerating from a 1.1% rate of gains to 2.9%, alongside a 0.5% rise in energy costs, which was up on a 0.1% gain in the month before.
The rate of gain in services prices also quickened, from the 1.6% year-on-year rate observed in February to 1.8%.