BERLIN (dpa-AFX) - Germany's producer prices dropped for the first time in five months in March due to lower energy prices, Destatis reported Thursday.
Producer prices fell 0.2 percent year-on-year in March, in contrast to the 0.7 percent rise in February. Prices decreased for the first time since October and also confounded expectations for an increase of 0.4 percent.
Lower energy prices were the main reason for the annual fall in producer prices. Energy prices posted an annual fall of 3.6 percent.
Meanwhile, capital goods prices moved up 1.9 percent and non-durable consumer goods cost climbed 2.6 percent. Durable consumer goods prices were 1.3 percent more than in March 2024. Intermediate goods prices climbed 0.5 percent, data showed.
On a monthly basis, the decline in producer prices deepened to 0.7 percent from 0.2 percent in February. Prices have been falling since December. Economists had forecast a monthly fall of 0.1 percent.
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