Germany's producer prices down for 15th month in a row

By Gokhan Ergocun

ISTANBUL (AA) - Producer prices in Germany dropped by 1.4% in September on a yearly basis, posting the 15th annual decline in a row, according to federal statistical office Destatis on Monday.

“Lower energy prices were the main reason for the year-on-year decline in producer prices also in September 2024, while higher prices had to be paid for capital, consumer and intermediate goods,” Destatis said.

Energy prices in September 2024 were 6.6% lower than in the same month last year.

Intermediate goods prices rose by 0.5% year-on-year in September, while capital goods prices were up 2%.

On a monthly basis, producer prices also fell by 0.5% in September.