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The first batch of Germany’s regional inflation data is in and points to an acceleration in price growth above 2 per cent this month in Europe’s largest economy.

Saxony, the first of Germany’s regions to reveal its data, reported a 2.4 per cent climb in inflation in February compared to the same month in 2016 – the highest rise since October 2011.

The figure suggests overall national inflation will inch up from the 1.9 per cent registered in January.

Inflation has been on the march across the continent at the start of the year, hitting a four- year high of 3.1 per cent in Spain last month but softening somewhat in France to 1.4 per cent.

We’ll be getting the next drip of regional German numbers in around an hour and the overall national figure at 1300 GMT.

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