Investing.com - Consumer price inflation in Germany rose less than expected in April, underlining concerns over the risk of deflation in the euro area, official preliminary data showed on Tuesday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 1.3% this month, up from 1% in March. Analysts had expected German consumer prices to rise by 1.4% in April.
Month-over-month, German consumer prices declined 0.2% this month, compared to forecasts for a drop of 0.1%, after rising 0.3% in the preceding month.
Following the release of the data, the euro turned lower against the U.S. dollar, with EUR/USD shedding 0.08% to trade at 1.3839, compared to 1.3857 ahead of the data.
Meanwhile, European stock markets remained higher. Germany's DAX rallied 1.3%, the Euro Stoxx 50 advanced 1.1%, France’s CAC 40 added 0.5%, while London’s FTSE 100 picked up 0.75%.