Germany’s inflation rate declined unexpectedly this month, though remains above the target of the European Central Bank, which this week cut its key interest rate. Consumer prices were 2.3% higher in January than the first month of 2024,

The European Central Bank has cut interest rates and kept the door open to further policy easing as concerns over lacklustre economic growth supersede worries about persistent inflation.

The European Central Bank cut interest rates as expected on Thursday and kept more easing on the table, sticking to its view that inflation in the euro zone is increasingly under control despite concerns about global trade.