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Financial News: Germany Producer Prices Fall Unexpectedly In February

Germany Producer Prices Fall Unexpectedly In February

03/20/2020 - 04:18:00 (RTTNews)

(RTTNews) - Germany's producer prices fell in February after rising in the previous month, data from Destatis showed on Friday.

The producer price index edged down 0.1 percent year-on-year in February, reversing a 0.2 percent increase seen in January. Economists had expected a 0.2 percent rise.

Among the components, prices for non-durable consumer goods grew 3.9 percent annually in February and those of durable consumer goods and capital goods rose by 1.5 percent and 1.3 percent, respectively.

Meanwhile, prices for intermediate goods and energy declined by 1.6 percent and 2.5 percent, respectively.

On a monthly basis, producer prices decreased 0.4 percent in February, after a 0.8 percent rise in the previous month. Economists had expected prices to fall 0.1 percent.

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