German Inflation Up Less Than Expected as ECB Mulls War Response

German inflation accelerated less than anticipated, supporting the European Central Bank’s arguments to defer a decision on raising interest rates due to the Iran war.

Consumer prices rose an annual 2.9% in April after a 2.8% increase in March — falling short of the 3.1% median estimate in a Bloomberg survey. Regional data released earlier suggested a drop in prices for package vacations offset higher fuel and heating costs.