EWG - Germany's inflation unchanged at 8.7% close to October peak

Germany's consumer price inflation remained unchanged at 8.7% in February 2023, not far from a peak of 8.8% seen in October and November.

It is above market expectations of 8.5%, and also well above the ECB's target of 2%.

Services inflation accelerated to 4.7% in Feb from 4.5% in Jan, with rent prices advancing 2%, the same pace as the month before.

Meanwhile, goods inflation eased slightly to 12.4% from 12.7%, as a slowdown in energy inflation, partially offset a sharper increase in the cost for food (21.8% vs 20.2%).

On a monthly basis, consumer prices advanced 0.8% in Feb, also above consensus of a 0.6% rise.

ETFs: ( EWG ), ( DBGR ), ( FGM ), ( DXGE )

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