US, WASHINGTON (ORDO NEWS) — Annual inflation in Germany in April slowed even further to a level well below the target of the European Central Bank (ECB), which gives the regulator additional freedom of action to pursue an incentive policy to counter the economic impact of the coronavirus pandemic, reports Reuters.
The Federal Statistical Office reported that consumer prices in Germany, agreed to European Union standards, rose in April by 0.8% year on year after reporting a growth of 1.3% in the previous month.
The indicator was the lowest since November 2016 and exceeded the Reuters forecast, which assumed an increase of 0.5%.
On a monthly basis, prices agreed with the EU rose 0.4% in April. The forecast of experts surveyed by Reuters suggested an increase of 0.1%.
The European Central Bank is targeting inflation close to but below 2% for the eurozone.
The European Central Bank previously limited the amount of bonds it could buy from any one eurozone country, clearing the way for potentially unlimited printing of money as it strengthens its response to the pandemic.
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