German Producer Prices Decline Most In 6 Months

(RTTNews) - Germany's producer prices declined at the fastest pace in six months in April largely due to lower energy prices, Destatis reported Tuesday.

Producer prices fell 0.9 percent on a yearly basis in April, following a 0.2 percent drop in March. This was the second consecutive decrease and also marked the biggest fall since October. Prices were expected to drop more moderately by 0.6 percent.

The annual fall reflects 6.4 percent decline in energy prices. By contrast, non-durable and durable consumer goods grew 3.2 percent and 1.4 percent, respectively.

Capital goods prices advanced 3.2 percent, while intermediate goods prices grew only 0.3 percent from the last year.

Month-on-month, producer prices were down 0.6 percent compared to a 0.7 percent drop in March.