Financial News: German Producer Prices Fall At Slower Pace In

German Producer Prices Fall At Slower Pace In March

04/19/2024 - 02:37:00 (RTTNews)

(RTTNews) - Germany's producer prices continued to decline in March, though at the slowest pace in nine months, data published by Destatis showed on Friday.

Producer prices registered an annual decrease of 2.9 percent after declining 4.1 percent in January. Prices have been falling since July 2023.

The overall decline in March was largely due to lower energy prices, which fell 7.0 percent from last year. Cheaper natural gas and electricity prices had the biggest influence on energy prices.

Excluding energy prices, producer prices were 0.8 percent lower than in March 2023 and 0.3 percent higher than in February.

Prices for intermediate goods declined 3.7 percent from last year, primarily due to price reductions for metals and basic chemicals.

At the same time, prices for consumer goods rose 0.3 percent, and those for capital goods increased by 2.8 percent.

Month-on-month, producer prices rebounded 0.2 percent in March, after a 0.4 percent decrease in February.

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