German producer prices fall in December
By Frank Prenesti
Date: Friday 20 Jan 2023
(Sharecast News) - German producer price inflation fell slowed sharply in December to its lowest rate in more than a year, according to official data released on Friday, in another sign that cost and price pressures may have peaked.
Producer price growth slowed to 21.6% year on year from 28.2% and is now at its lowest level since November 2021, statistics office Destatis said.
The figure also compares with the record high of 45.8% last August and September. Last month's decline was driven by a 1% fall in energy costs as prices for natural gas and mineral oil products eased. November, energy prices decreased by 9.6% compared with October.
Reporting by Frank Prenesti for Sharecast.com
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