Germany's producer inflation at minus 4.4% in January

By Gokhan Ergocun

ISTANBUL (AA) - Germany's producer prices dropped 4.4% year-on-year in January, the federal statistical authority Destatis said on Friday.

"In January 2024, lower energy prices continued to be the main reason for the year-on-year decline in producer prices," Destatis said.

Energy prices in January 2024 fell 11.7% from January 2023, it added.

Intermediate goods prices were also weaker than in January 2023, while consumer and capital goods were more expensive, it added.

Meanwhile, prices climbed 0.2% on a monthly basis in January, it noted.