Producer prices in Germany down for 14th month in a row

By Gokhan Ergocun

ISTANBUL (AA) - Germany's producer prices decreased 0.8% year-on-year in August, posting their 14th decline in a row, the federal statistical authority Destatis announced on Friday.

Meanwhile, producer prices were up 0.2% on a monthly basis, Destatis said.

Lower energy prices were the main reason for the year-on-year decline in producer inflation.

Energy cost 4.6% less in August 2024 than in the same month last year, although compared with this July, they were up 0.8%.

Intermediate goods prices went up 0.7% in August on a yearly basis, while they declined 0.3% on a monthly basis.

In August, capital goods prices rose 2% year-on-year, gaining 0.1% from July.