Destatis released its consumer price data for Germany on Monday. German preliminary consumer price index decreased 0.1% in December, missing expectations for a 0.2% rise, after a 0.1% increase in November.

On a yearly basis, German preliminary consumer price index declined to 0.3% in December from 0.4% in November, missing expectations for a rise to 0.6%.

The annual increase was mainly driven by a rise in services prices, which were up 1.2% year-on-year in December.

Goods prices dropped 0.6% year-on-year in December, driven by a decline in energy prices. Energy prices slid 6.5% year-on-year in December.