Germany's annualized headline inflation jumped to its highest point since August of 2012, jumping to 2.20% in February according to figures reported by Federal Statistics Office Destatis earlier. Harmonised to compare with other Euro Area countries, consumer prices gained by 0.70% on a month over month basis.
It was the first time since September of 2012 that annual inflation broke above the European Central Bank's price stability target of just under 2.00%. On a non-harmonised basis, February CPI rose by 0.60% from January and increased by 2.20% from the same period a year ago. The predominant drivers of these gains were energy prices climbing 7.20% year over year while prices of goods rose by 3.20% and food prices increased by 4.40%. After trending higher following the weekly reopening, DAX 30 futures for June are currently correcting lower, trading around 12000.