Germany's Federal Statistical Office reported on Wednesday the country's consumer price index (CPI) is expected to increase 0.3 m-o-m in April after gaining 0.1 percent m-o-m in the previous month.

On the y-o-y basis, Germany's inflation rate is seen to rise 0.8 percent this month, following a 1.4 percent advance in March. That is the lowest inflation rate since November 2016.

Economists had predicted inflation would be flat m-o-m, but would increase 0.6 percent y-o-y in April.

According to the report, food price growth accelerated to 4.8 percent y-o-y in April from 3.7 percent y-o-y in March, while energy prices fell 5.8 percent y-o-y after a 0.9 percent y-o-y drop in the previous month. Services costs rose 1.3 percent y-o-y in April, decelerating from 1.4 percent y-o-y in March.

Meanwhile, the harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is expected to advance 0.4 percent m-o-m and 0.8 percent y-o-y.