German producer prices fall more than expected in September
It declined 1.4% year-on-year, due mainly to significantly lower energy prices
GERMAN producer prices fell more than expected in September, declining 1.4 per cent year-on-year, due mainly to significantly lower energy prices, the federal statistics office said on Monday (Oct 21).
Analysts polled by Reuters had expected a 1.0 per cent decline.
The main reason for the dip was lower energy prices, which were 6.6 per cent lower in September compared with the same month last year. Mineral oil products in particular were down 14.4 per cent.
Excluding energy prices, producer prices were up 1.2 per cent, with higher costs for capital, consumer and intermediate goods.
September marked the 15th decline in a row in Germany’s producer prices index, considered a key inflation indicator.
EU-harmonized German inflation eased slightly, to 1.8 per cent in September from 2.0 per cent in August, the office confirmed this month
On the month, September prices fell a more-than-expected 0.5 per cent. Analysts had forecast a 0.2 per cent decrease. REUTERS
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