Producer prices in Germany fell in April, the most since mid-2016

The German producer prices declined in April at the fastest pace since mid-2016, mainly due to the decline in energy prices, showed data released by statistical office Destatis.

Producer prices fell by -1.9% yoy in April after a fall of -0.8% in March. It was the third decline in a row.

The same rapid decline last seen in July 2016. It was predicted that prices will fall by -1,8%.

On a monthly basis, producer prices declined in April fell 0.7%, slightly slower than a drop of -0.8% in March.

, Data showed that energy prices decreased by -7,3% due to weak demand amid a pandemic of coronavirus . Intermediate goods prices decreased by -2,7% per annum.

At the same time, prices of capital goods and consumer durables rose 1.2% and 1.5% respectively. Prices of non-food consumer goods rose by 2.8% compared to last year.

Excluding energy, producer prices dropped 0.1% compared to the previous year and by 0.3% compared to March 2020.

Information-analytical Department TeleTrade

Source: teletrade.ru

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