The rate of inflation in Germany, Europe's biggest economy, inched lower in February, official final data showed today.

The cost of living rose by 1.2% on a 12-month basis in February, compared with 1.3% in January, the federal statistics office Destatis said in a statement.

Using the Harmonised Index of Consumer Prices (HICP), the European Central Bank's inflation yardstick, inflation in Germany stood at 1% in February, down from 1.2% in January. 

The ECB defines price stability as increases in the harmonised index of close to but just below 2%. The final data confirm a preliminary estimate published on February 27.