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European Economic News

German Producer Prices Decline For Seventh Month

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Germany's producer prices fell for the seventh successive month in February, and the rate of decline matched economists' forecast, latest data revealed Thursday.

The industrial producer price index decreased 0.9 percent in February from the same month of last year, the Federal Statistical Office said. This followed a 1.1 percent contraction in January.

The February outcome matched economists' expectations. Prices have now fallen for the seventh consecutive month.

The development in February was influenced most by a 2.6 percent fall in energy prices, and a 1.9 percent drop in prices of intermediate goods. Meanwhile, capital goods prices grew by 0.5 percent, and consumer goods prices recorded a 1.3 percent gain.

Month-on-month, producer prices held steady in February, after dropping 0.1 percent in the beginning of the year. Expectations were for a 0.1 percent increase.

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