German Producer Prices Register Sharpest Annual Drop in Almost 6 Years

1 min read

The FINANCIAL — German producer prices registered the sharpest annual drop in almost six years in November, pulled lower by energy prices, the Federal Statistical Office said on December 21, according to Nasdaq.

Producer prices fell 0.2% on the month and were 2.5% lower compared with November last year. That was the sharpest annual reduction since February 2010. Economists polled by The Wall Street Journal forecast declines of 0.2% and 2.4%, respectively.

Energy prices once again had the largest effect on producer prices, the statistics office said, and slipped 0.2% compared with October, but slumped 7.1% from the year-earlier month.

Excluding energy prices, which can be volatile, producer prices in Europe’s largest economy slipped 0.2% from October and declined 0.7% from a year earlier. Prices for durable consumer goods, meanwhile, rose 0.2% on the month and increased 1.5% on the year.

 

 

 

See also  The factors likely to see Aussie stocks outperform in H2

Leave a Reply