Germany's Federal Statistical Office reported on Friday the country's consumer price index (CPI) is expected to increase 0.4 m-o-m in February after dropping 0.6 percent m-o-m in the previous month.

On the y-o-y basis, Germany's inflation rate is seen to rise 1.7 percent this month, the same pace as in January.

Economists had predicted inflation would increase 0.3 percent m-o-m and 1.7 percent y-o-y in February.

According to the report, food price growth accelerated to 3.3 percent y-o-y in February from 2.3 percent y-o-y in January, while energy prices rose 2.0 percent y-o-y, decelerating from 3.4 percent y-o-y in the previous month. Services costs rose 1.6 percent y-o-y in February after a 1.5 percent y-o-y jump in January.

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 1.7 percent y-o-y.