Financial News: German Producer Prices Unexpectedly Rise 0.1%

German Producer Prices Unexpectedly Rise 0.1%

12/20/2024 - 02:50:00 (RTTNews)

(RTTNews) - The declining trend in German producer prices unexpectedly ceased in November, data from Destatis showed on Friday.

Producer prices rose 0.1 percent year-on-year in November, reversing a 1.1 percent fall in the prior month. Economists had expected a further fall of 0.3 percent.

Moreover, prices increased for the first time since June 2023, when prices had risen 1.2 percent.

The renewed rise in November was mainly driven by a 1.9 percent increase in prices for capital goods. Meanwhile, the decline in energy prices softened to 2.4 percent from 5.6 percent in October.

Prices for consumer goods were 2.4 percent more expensive, and those for durable consumer goods rose by 0.9 percent. Data showed that intermediate goods prices grew only 0.4 percent.

Excluding energy, producer prices gained 1.3 percent on the year but fell 0.1 percent from a month ago.

Month-on-month, producer prices increased 0.5 percent after rebounding 0.2 percent in October.

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