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German inflation hits 4-year low, raising heat on ECB

The skyline of Frankfurt am Main, central Germany is seen from the construction site of the new tower of the ECB, European Central Bank, on April 29, 2014Inflation in Germany, Europe’s biggest economy, slowed to its lowest rate in four years in May, data showed on Monday, turning up the heat on the European Central Bank to act. According to preliminary data compiled by the federal statistics office Destatis, German inflation slowed to 0.9 percent last month, its lowest level since February 2010. In April, the inflation rate had stood at 1.3 percent. Analysts said the slowdown will increase pressure on the ECB to cut rates at its monthly policy meeting this week and launch other measures to ease monetary conditions in the single currency area.

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