German producer prices fall 11.0% y/y in October
2023.11.20 03:34
© Reuters. A cargo ship is seen on river Main in front of the skyline during a summer evening in Frankfurt, Germany, August 13, 2023. REUTERS/Kai Pfaffenbach/File Photo
BERLIN (Reuters) – German producer prices fell in line with expectations in October, the federal statistics office said on Monday, continuing a downward trend after a record fall in September.
Compared with October 2022, prices were down 11.0%, which had also been the expectations of analysts polled by Reuters.
The office pointed out the 27.9% yearly fall in energy prices as the main reason for the decline in producer prices.
With energy prices excluded, prices were 0.2% higher than in October 2022, according to the office.
Compared with September, producer prices fell by 0.1%, it said. The office publishes more detailed data on its website.
