German inflation falls to 2.3% in March, backing bets for ECB rate cut

German inflation came in at a lower-than-expected 2.3% in March, compared to February’s 2.6% print, as per preliminary data from Destatis. The harmonized inflation rate for the euro area increased by 0.4% on a monthly basis, while core inflation, excluding food and energy costs, was at 2.5%. Services inflation also decreased to 3.4% in March from 3.8% in the previous month.

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