Destatis released its consumer price inflation data for Germany on Friday. German preliminary consumer price index rose 0.9% in February, exceeding expectations for a 0.6% increase, after a 1.1% drop in January.

On a yearly basis, German preliminary consumer price index increased to 0.1% in February from -0.4% in January.

The increase was driven by lower decline in energy and food prices. Energy prices plunged 7.3% in February, after a 9% drop in the previous month. Food prices decreased 0.4%, after a 1.3% fall in January.