Germany’s producer prices declined at a faster-than-expected pace in February, data from Destatis showed Friday.
The producer price index fell 3.0 percent year-over-year in February, exceeding economists’ expectations for a 2.6 percent decrease.
In January prices had dropped 2.4 percent. The measure has been falling since August 2013.
The annual decline in February was largely driven by a 9.4 percent plunge in energy prices.
Excluding energy, producer prices slid 0.7 percent yearly in February and edged down 0.1 percent from the preceding month.
Prices in the intermediate good sector dipped 2.2 percent, while those of consumer goods sector registered an increase of 1.4 percent.
Month-on-month, producer prices decreased 0.5 percent in February, slower than January’s 0.7 percent fall. The expected rate decline was only 0.1 percent.
The material has been provided by InstaForex Company – www.instaforex.com