Friday, the German federal Statistical Office said in a preliminary report that the consumer price index or CPI rose 0.5% year-over-year in March, slower than the 1% increase in the previous month. Economists were looking for an increase of 0.7%.

On a monthly basis, the CPI dropped 0.1% in March, in contrast to a 0.6% rise in February. Economists expected an increase of 0.1%.

The harmonised index of consumer prices or HICP rose 0.4% annually in March, compared to the 1% rise seen in the previous month. Economists had predicted the HICP to slow to 0.7%.

Month-on-month, the HICP decreased 0.2% in March, after a 0.7% increase in the preceding month.

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