In Germany, the producer price index fell by 4.2% in October. This is the first since May 2020.
Producer prices registered an unexpected fall in October. This is demonstrated by the official statistics published by Reuters on Monday, November 21. Destatis said the index is down 4.2% from September, due in part to a drop in natural gas and electricity prices.
Economists expected an increase of 0.9%. However, natural gas prices fell 9.0% and electricity prices 16.9%. This is “perhaps the first sign of some easing of price pressure,” Jens-Oliver Niklasch, an economist at LBBW, said when interviewed by Reuters. As a reminder, prices have increased by 34.5% in one year. A figure that remains below the consensus at +41.5%.
Source: BFM TV
