Germany's Wholesale Prices Fall Most Since Mid 2016

Germany's wholesale prices declined at the fastest pace since mid 2016 in September, data from Destatis revealed on Monday.

Wholesale prices fell 1.9 percent year-on-year in September, following a 1.1 percent decrease in August.

This was the third consecutive decrease and the biggest fall since June 2016, when prices were down 2 percent.

The annual fall was largely driven by lower prices of mineral oil products, waste and scraps and cereals and raw tobacco.

On a monthly basis, wholesale prices dropped 0.4 percent, but slower than the 0.8 percent fall posted in August.

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