German exporters are enjoying better times

Consumer prices were flat at 2.1% on an annual basis although, month-on-month, they rose 0.4% from January.

In better news for the German economy, the country's monthly trade surplus widened to 12.5bn euros (�8.5bn) in January from 9.2bn euros in December.

Exports rose 3.3% to 68.6bn euros, evidence of a general economic upturn, while imports rose 3% to 56.1bn euros.

There have been mixed indicators about the strength of Germany's economic recovery in recent weeks.

While business confidence is at a five-year high and unemployment has fallen in 10 out of the last 11 months, consumer spending remains weak.