German producer prices fall 4.1% in February

20th Mar 2024 07:33

(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