German inflation edges closer to ECB's target
The European Central Bank should end its bond-buying programme if Germany's stronger-than-expected inflation reading for December is reflected across the Eurozone, the head of Germany's influential Ifo economic institute said.
German consumer prices rose by 1.7pc on the year in December after increasing 0.7pc in November, the Federal Statistics Office said. It is close to the 2pc inflation target that the ECB has struggled to meet.
A Reuters poll pointed to Eurozone inflation data, due later today, coming in around 1pc for December. (Reuters)