Investing.com - Consumer price inflation in Germany increased broadly in line with market expectations in March, easing concerns over the risk of deflation in the euro area, official preliminary data showed on Monday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 0.3% this month, meeting forecasts and compared to a reading of 0.1% in February.
Month-over-month, German consumer prices rose 0.5% in March, also in line with expectations, after climbing 0.9% in the preceding month.
EUR/USD was trading at 1.0835 from around 1.0837 ahead of the release of the data, while EUR/GBP was at 0.7328 from 0.7330 earlier.
Meanwhile, European stock markets were broadly higher. Germany's DAX jumped 1.3%, the EURO STOXX 50 rose 1.05%, France’s CAC 40 tacked on 0.9%, while London’s FTSE 100 inched up 0.2%.