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German producer prices fall more than expected in September
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BERLIN (Reuters) – German producer prices fell more than expected in September, declining 1.4% year on year, due mainly to significantly lower
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)
Producer prices refer to the prices that producers receive for their goods and services. They are a key indicator of inflation and can influence consumer prices.
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI) or Producer Price Index (PPI).
Energy prices refer to the costs associated with energy sources such as oil, gas, and electricity. These prices can significantly impact overall inflation and economic conditions.
A key inflation indicator is a statistic that reflects the rate of inflation in an economy. Common indicators include the Consumer Price Index (CPI) and Producer Price Index (PPI).
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