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German Producer Price Inflation At 8-month Low

Germany's producer price inflation eased for a second straight month to its lowest level in eight months in January, figures from the Federal Statistical Office showed on Wednesday.

The producer price index rose 2.6 percent year-on-year in January, following a 2.7 percent in December. Economists were looking for 2.20 percent inflation.

The pace of growth was the slowest since July 2018, when inflation was 2.9 percent.

Energy prices rose 7.2 percent. Prices of durable consumer goods and capital goods increased 1.6 percent each.

Intermediate goods prices increased by 1.2 percent and prices of non-durable consumer goods grew 0.6 percent.

Compared to the previous month, producer prices rose 0.4 percent, reversing a 0.4 percent decline in December. Economists had forecast a 0.10 percent decrease.

Energy prices rose 0.6 percent from the previous month.

Excluding energy, producer prices increased 1.2 percent annually and edged up 0.2 percent from the previous month.

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