German producer prices fall 1.1% in October

20th Nov 2024 07:24

(Sharecast News) - German producer prices fell 1.1% in October as energy costs declined, according to official data published on Wednesday.

Energy prices were 5.6% lower year on year but rose 0.6% compared with September 2024. Across all customer groups, natural gas prices declined by 10.1% from October 2023 and were up 1.1% on September 2024, said the federal statistics office Destatis.

Electricity cost 7.3% less than in October 2023 but was 0.5% more expensive than in September 2024.

Prices for intermediate and capital goods were higher, Destatis added.

Reporting by Frank Prenesti for Sharecast.com