Germany released the preliminary consumer price indexes for February, where the monthly index expanded by 0.7% from the prior drop of 0.4%, beating estimates of 0.5% expansion, while the annual index expanded to 2.3% from 2.1%, beating estimates of steady indexes.

Moreover, the monthly harmonised index expanded by 0.9% from the previous drop of 0.5%, above expectations of 0.5%, while the annual harmonised index expanded to 2.5% from 2.3%, above estimates of 2.2%, most probably affected by the rising oil prices.