Financial News: German Producer Prices Fall 0.8%, Less Than Expected

German Producer Prices Fall 0.8%, Less Than Expected

09/20/2024 - 03:18:00 (RTTNews)

(RTTNews) - Germany's producer prices declined at a stable rate in August, though at a slower-than-expected pace, data published by Destatis showed on Friday.

Producer prices registered an annual decrease of 0.8 percent in August, the same as in July. The expected decline was 1.0 percent. Prices have been falling since July 2023.

The overall decline in August was largely due to lower energy prices, which were 4.6 percent cheaper compared to last year. Lower natural gas and electricity prices had the biggest influence on energy prices.

Excluding energy prices, producer prices were 1.2 percent more expensive compared to August 2023, while they remained flat compared to July.

Prices for intermediate goods climbed 0.7 percent from last year, and those for capital goods rose 2.0 percent. Similarly, costs for consumer goods increased by 1.0 percent.

Month-on-month, producer prices rose slightly and at a steady pace of 0.2 percent in August, while prices were expected to remain flat.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Producer Prices Unexpectedly Unchanged In September (01 hr(s), 24 min(s), 05 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (01 hr(s), 27 min(s), 05 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (04 hr(s), 21 min(s), 05 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (05 hr(s), 15 min(s), 05 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (05 hr(s), 36 min(s), 05 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (05 hr(s), 58 min(s), 05 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»

Dutch Exports Fall 2.1% In August (06 hr(s), 17 min(s), 05 sec(s) ago)
(RTTNews) - Exports in the Netherlands decreased in August after recovering in the previous month, ...Full Story»

Bank Of Korea Cuts Key Rate For First Time In More Than 4 Years (07 hr(s), 04 min(s), 05 sec(s) ago)
(RTTNews) - The Bank of Korea lowered its base rate for the first time in more than four years on ...Full Story»