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* Bund yield reaches its highest level in a week after public inflation data
* Largest jump of one day in more than two weeks
* Eurozone GDP higher than expected in the first quarter
* Bond yields on the periphery of the euro zone tmsnrt.rs/2ii2Bqr (Recast with German inflation)
By Dhara Ranasinghe
LONDON, April 30 (Reuters) – On Tuesday, the yield on 10-year German government bonds hit a record high of one week, above zero percent, after stronger economic growth data than expected euro area and signs of recovery of inflation in the central. German economy.
Gross domestic product in the 19 countries sharing the euro increased 0.4% qoq in the first three months of 2019, compared with 0.2% in the fourth quarter of 2018 and 0.1% in the third quarter .
This followed the signs of an acceleration of inflation in Germany, the leading economy of the euro zone.
The rise in consumer prices in North Rhine-Westphalia rose by 2.1% in April, while inflation in Bavaria rose by 2%. The national number will be published later in the session.
The main long-term inflation forecasts reached a record high of 1.4194% in five weeks as a result of the data release.
Germany was the best-selling for the highest-rated bonds in the euro area, rising nearly four basis points to a record high of one week at 0.04%. It was his biggest jump of a day in more than two weeks.
"Inflation data is clearly firmer," said Richard McGuire, head of Rabobank's rate strategy in London.
"That adds to the pressure on the main paper, which appeared yesterday as markets welcomed the lack of downgrading of S & P's rating on Italy and the fact that it was "There was no better performance for the far right in the Spanish election this weekend."
S & P Global on Friday maintained Italy's BBB credit rating, helping to narrow the spreads on peripheral bonds against Germany's benchmark on Monday.
In the euro area, most 10-year bond yields rose 3 to 4 basis points this day, while Tuesday's economic news reinforced hopes for an improving outlook and offset the weaker tone of China, where manufacturing figures did not meet expectations.
The French economy, the second largest in the euro area, grew by 0.3% between January and March, the third consecutive quarter at this rate, showed Tuesday preliminary data. This was in line with market expectations.
The Spanish economy, the fourth largest in the currency bloc, recorded stronger-than-expected growth of 0.7% in the first three months of the year.
"The focus is on inflation figures that were low last month," said Pooja Kumra, European rate strategist at TD Securities in London.
"Given the fact that tomorrow is a holiday in much of Europe and that we have the Fed meeting, the volumes are light," she said, referring to a meeting of two days of the US Federal Reserve which will end on Wednesday. (Report by Dhara Ranasinghe, edited by Alison Williams and Angus MacSwan)
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