The German Federal Statistics Bureau released its consumer price index on Monday. German preliminary consumer price index remained flat in December, missing expectations for a 0.1% gain.

On a yearly basis, German preliminary consumer price index decreased to 0.2% in December from 0.6% in November, missing forecasts for a decline to 0.4%. That was the lowest level since October 2009.

These figures has added to concerns that the Eurozone could slip into deflation.

Investors speculate that the European Central Bank could decide on its policy meeting on January 22 to purchase government bonds.