11/20/2019, 8:01 AM (Source: TeleTrader)
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German producer prices slip 0.6% YoY in October

Producer prices in Germany decreased by 0.6% on an annual basis in October, with the projections saw it declining 0.4% year-on-year, the country's national statistical office Destatis said on Wednesday. The producer price index slid 0.2% compared to the previous month when it measured a decline of 0.1%.

Energy prices, down 3.1%, contributed most to the annual drop in October with petroleum products prices plunging 10.1% and natural gas prices dropping 8.8%. The decline was somewhat offset by electricity which increased by 3.4%. Excluding energy, the producer price index added 0.3% compared to the same month in 2018. Prices of non-durable consumer goods rose 2.3%, capital goods prices were up by 1.5%, durable consumer goods prices added 1.4%, while intermediate goods prices declined 0.7%, the largest drop since July 2016.

Breaking the News / GA