Destatis released its consumer price data for Germany on Friday. German preliminary consumer price index increased 0.4% in February, missing expectations for a 0.5% rise, after a 0.8% drop in January.

On a yearly basis, German preliminary consumer price index declined to 0.0% in February from 0.5% in January, missing expectations for a decline to 0.1%.

The annual inflation was mainly driven by a drop in energy prices. Energy prices slid 8.5% year-on-year in February.

Goods prices dropped 1.1% year-on-year in February, while services prices increased 0.9%.