German Producer Prices Fall More Than Forecast

(RTTNews) - Germany's producer prices declined more than expected in February largely due to the sharp fall in energy prices, data from Destatis showed on Friday.

Producer prices logged an annual fall of 3.3 percent in February, slower than the 3.0 percent decrease seen in January.

A similar pace of decline was last seen in April 2024. Prices were expected to fall at a slower pace of 2.7 percent.

The annual fall was largely driven by lower energy prices. Excluding energy, producer prices rose 1.0 percent but weaker than the 1.2 percent increase seen a month ago.

Energy prices plunged 12.5 percent from the last year and non-durable goods prices dropped 0.6 percent. Meanwhile, prices of durable and capital goods grew 2.0 percent and 1.7 percent, respectively. Intermediate goods prices gained 1.1 percent.

On a monthly basis, producer prices dropped 0.5 percent, confounding expectations for an increase of 0.3 percent.