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Financial News: Germany Producer Prices Fall For Second Month

Germany Producer Prices Fall For Second Month

11/20/2019 - 02:26:00 (RTTNews)

(RTTNews) - Germany producer prices declined for the second straight month in October largely driven by energy prices, data from Destatis showed Wednesday.

Producer prices fell by 0.6 percent year-on-year in October, bigger than the 0.1 percent drop in September. This was the second straight decrease. Economists had forecast an annual 0.4 percent fall.

On a monthly basis, producer prices dropped 0.2 percent, in contrast to a 0.1 percent increase in September. Prices were forecast to rise 0.1 percent.

Excluding energy, producer prices gained 0.3 percent on month but declined 0.2 percent from the same period last year. Energy prices decreased 3.1 percent annually.

Among other components, prices of capital goods grew 1.5 percent. Durable consumer goods and non-durable consumer goods prices advanced 1.4 percent and 2.3 percent, respectively. Meanwhile, intermediate goods prices fell 1.7 percent.

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