20th Nov 2015 07:30
BERLIN (Alliance News) - Germany's producer prices declined at the fastest pace since early 2010, data published by Destatis showed Friday.
Producer prices decreased 2.3% in October from last year, the biggest fall since February 2010, when prices declined 3%. Producer prices have been falling since August 2013.
Economists had forecast prices to fall 2% after easing 2.1% in September.
Month-on-month, producer prices slid 0.4% in October, the same rate of fall as seen in September. Prices were expected to drop 0.2%.
The overall index disregarding energy decreased 0.7% in October compared with last year. Energy prices declined by 6.5% annually.
Among other components of PPI, prices of non-durable consumer goods fell 0.5% and that of intermediate goods by 1.9%. In contrast, prices of capital goods gained 0.6% and prices of durable consumer goods by 1.3%.
Copyright RTT News/dpa-AFX