German producer prices slide 0.7% in November

Mittwoch, 18. Dezember 2019 08:02

Producer prices in the Eurozone's largest economy declined 0.7% on an annual scale in November, the country's statistical office said in a report on Wednesday. Month-on-month, the index measuring domestic producers' selling prices remained unchanged, landing at 0%.

Prices of energy decreased by 3.4% year-over-year, while on the monthly basis energy prices rose by 0.2%. Excluding energy. the overall index was up 0.2% in November. Compared with October of the same year, the index decreased modestly by 0.1%.

Prices of intermediate goods dropped by 2.1% compared to the corresponding month of the previous year, while declining 0.3% compared to October. Secondary raw materials gave the largest contribution to the overall drop in prices, slipping 23.2%. Meanwhile, prices of non-durable consumer goods jumped by 2.6% year-on-year, or 0.2% on a monthly basis.

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