The declining trend in German producer prices deepened in November amid cheaper energy costs, data from Destatis showed on Friday.
Producer prices for industrial products dropped 2.3 percent year-on-year in November, faster than the 1.8 percent fall in the prior month. Economists had expected a fall of 2.2 percent.
Moreover, this was the quickest decline since April 2024, when prices decreased 3.3 percent.
A 9.0 percent plunge in energy prices largely drove the decline in November amid cheaper costs for natural gas and electricity. Data showed that intermediate goods dropped slightly by 0.2 percent.
Meanwhile, prices for capital goods were 1.9 percent costlier compared to last year, and those for non-consumer goods climbed by 1.3 percent. Prices for durable consumer goods were 1.8 percent more expensive.
Excluding energy, producer prices gained 0.8 percent on the year but fell 0.1 percent from a month ago.
Month-on-month, producer prices remained flat in November, following a 0.1 percent rise in October. Prices were expected to increase by 0.1 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
