According to Jinshi, Carsten Brzeski, head of global macroeconomics at ING, said that behind the positive signal of falling headline inflation in Germany, there are still enough worrying price pressures, which should prevent the ECB from cutting interest rates too early. The favorable base effect of energy and food prices masks the more worrying trend of rising monthly prices, especially in the service sector. Brzeski pointed out that the opposite trend may appear in the future, with weak demand leading to more anti-inflation, but the fading base effect, supply chain frictions and austerity measures will also bring new pressures. This sends a mixed signal to the ECB, which will welcome the decline in German inflation, but be aware of the potential pressures that show how difficult it will be to get inflation down to the target level in the last mile.