DAX Holds Steady As Inflation Eases In March
(RTTNews) - German stocks were steady on Thursday despite concerns that the U.S. economy may fall into recession in late 2020 due to the banking crisis.
Investors cheered official data showing that Germany's consumer price inflation eased markedly in March to the lowest level in seven months, as initially estimated amid a sharp slowdown in energy costs.
The consumer price index climbed 7.4 percent year-over-year in March, slower than the 8.7 percent rise in February, final data from Destatis revealed.
The latest inflation rate was in line with flash data published on March 30.
On a monthly basis, consumer prices gained 0.8 percent, and the HICP moved up 1.1 percent. There was no change in figures compared with the previous estimate.
The benchmark DAX was largely unchanged at 15,704 after rising 0.3 percent in the previous session.
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