The Federal Statistics Office released German preliminary consumer inflation data on Thursday. German preliminary consumer index dropped to 0.5% annual rate in November from 0.7% in October, missing forecasts of a decline to 0.6%. That was the lowest level since February 2010.

On a monthly basis, preliminary consumer prices were flat in November, in line with expectations, after a 0.3% fall in October.

These figures added to concerns about deflation in the Eurozone. Deflation can trigger a spiral where businesses and households delay purchases.

Final figures are scheduled to be released on December 11.