German producer prices fall 11.0% y/y in October By Reuters

© Reuters. A cargo ship is seen on the Main River in front of the horizon on a summer evening in Frankfurt, Germany August 13, 2023. REUTERS/Kai Pfaffenbach/File Photo

BERLIN (Reuters) – German producer prices fell in line with expectations in October, the Federal Statistics Office said on Monday, continuing their downward trend after a record fall in September.

Compared to October 2022, prices fell by 11.0%, which also matched the expectations of analysts polled by Reuters.

The bureau pointed to the 27.9% annual drop in energy prices as the main reason for the drop in producer prices.

Excluding energy prices, prices were 0.2% higher than in October 2022, according to the bureau.

Compared to September, producer prices fell by 0.1%, the press release specifies. The office publishes more detailed data on its website.

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