German producer prices fall 4.1% in February
By Frank Prenesti
Date: Wednesday 20 Mar 2024
(Sharecast News) - German producer prices in February fell a further-than-expected 4.1% on an annualised basis, the federal statistics office said on Wednesday.
The reading beat the 3.8% decline forecast by economists, driven by falling energy prices. Intermediate goods were also cheaper than in February 2023, while consumer and capital goods were more expensive.
Energy was 10.1% cheaper in February than a year earlier and fell 1.2% from January, with natural gas and electricity down 17.7% and 16.8% respectively.
Reporting by Frank Prenesti for Sharecast.com
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