Economic Buzz: German Producer Prices Decline At Slowest Pace In Five Months In August

Economic Buzz: German Producer Prices Decline At Slowest Pace In Five Months In August

Sep 18, 2020 03:09 IST capital market

Germanys producer prices declined 1.2 percent year-on-year following a 1.7 percent fall in July, preliminary data from the Federal Statistical Office showed on Friday. The pace of decline was the weakest since March, when prices fell 0.8 percent. The main reason for the decline in commercial producer prices in August was the 3.9 percent year-on-year slump in energy prices. Prices for petroleum products decreased 14.4 percent and those for natural gas in distribution fell 9.9 percent. Excluding energy, producer prices decreased 0.4 percent from the same month of 2019.

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