German Inflation Unexpectedly Quickens in Fresh Blow for ECB
- Consumer prices rose 9.3% from year ago in February; est. 9%
- ECB set for half-point March hike with focus on months ahead
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German inflation surprisingly accelerated in February, further complicating the European Central Bank’s task after overshoots this week in other parts of the continent.
Consumer prices advanced 9.3% from a year ago, up from January’s 9.2% gain, driven by services and food costs. The move came even as Germany moved to limit household heating bills that rocketed because of Russia’s war in Ukraine.