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10/21, 8:00 AM (Source: TeleTrader)
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German producer prices down 0.1% in September

Producer prices in Germany decreased by 0.1% in September compared to the same month a year ago, the country's national statistical office Destatis announced on Monday. The decline was smaller than analysts had expected. In August, the producer price index was up 0.3%.

Energy prices, down 1.9%, contributed most to the annual drop in September with petroleum products prices plunging 7.6% and natural gas prices dropping 6.8%. The decline was somewhat offset by electricity which increased 3.7% Excluding energy, the producer price index added 0.5% compared to the same month in 2018. Prices of non-durable consumer goods rose 1.8%, capital goods prices were up by 1.5%, durable consumer goods prices added 1.4%, while intermediate goods prices grew by 1%.

On a monthly basis, the producer price index rose 0.1% in September compared to August.

Breaking the News / NP