Germany’s producer prices declined in September for the first time in nearly three years, data from Destatis showed on Monday.
Producer prices fell 0.1 percent year-on-year in September, reversing a 0.3 percent rise in August. Economists had expected the price to decrease 0.2 percent.
This was the first decline since October 2016, when prices fell 0.5 percent.
Excluding energy, producer prices gained 0.5 percent from last September and fell 0.1 percent monthly. Energy prices decreased 1.9 percent on a yearly basis but gained 0.4 percent from August.
Prices for intermediate goods fell 1.0 percent annually in September, while those for capital goods and consumer goods rose by 1.5 percent and 1.4 percent, respectively.
On a monthly basis, producer prices edged up 0.1 percent in September, after a 0.5 percent decrease in the previous month. Economists had expected a 0.1 percent fall.
The material has been provided by InstaForex Company – www.instaforex.com