The monetary hawks will have another reason to attack European Central Bank chief Mario Draghi. For the first time in more than four years, the German economy outpaced the ECB’s inflation target of 1.9 percent, exceeding the projections of most economists.
Prices for goods and services in February rose 2.2 percent over the year prior, according to Germany’s federal statistical office. It’s not just rising food and fuel prices that are driving inflation. German companies are shifting rising costs onto consumers as employment hits record levels.