With core inflation falling less than expected, this partly supports the ECB's view that it is not urgent to cut interest rates。

Last week, the ECB left interest rates unchanged, but central bank governor Lagarde did not say clearly when the ECB would cut rates.。Instead, Lagarde focused on wage growth, highlighting concerns about consumer spending and demand-driven inflation trends.。

As the EU's largest economy, Germany is facing the impact of soaring prices and rising interest rates, especially for German manufacturing.。

Throughout 2023, the Eurozone economy grew by 0.5%。However, the outlook for 2024 remains challenging against the backdrop of high interest rates and inflation, as well as weak domestic and foreign demand.。