;

Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Trading

German producer prices fall more than expected in September

Published by Uma Rajagopal

Posted on October 21, 2024

Featured image for article about Trading

BERLIN (Reuters) – German producer prices fell more than expected in September, declining 1.4% year on year, due mainly to significantly lower energy prices, the federal statistics office said on Monday.

Analysts polled by Reuters had expected a 1.0% decline.

The main reason for the dip was lower energy prices, which were 6.6% lower in September compared with the same month last year. Mineral oil products in particular were down 14.4%.

Excluding energy prices, producer prices were up 1.2%, with higher costs for capital, consumer and intermediate goods.

September marked the 15th decline in a row in Germany’s producer prices index, considered a key inflation indicator.

EU-harmonized German inflation eased slightly, to 1.8% in September from 2.0% in August, the office confirmed this month.

On the month, September prices fell a more-than-expected 0.5%. Analysts had forecast a 0.2% decrease.

(Reporting by Rene Wagner and Miranda Murray in Berlin, and Tristan Veyet, Marleen Kaesebier in Gdansk; Editing by Toby Chopra)