Germany’s producer price inflation eased to a seven-month low in December, figures from Destatis showed on Monday.
Producer prices climbed 2.7 percent year-on-year in December, slower than the 3.3 percent increase seen in November. This was the lowest rate since May, when prices rose 2.5 percent.
Excluding energy, producer prices remained unchanged on month taking the annual growth to 1.6 percent in December.
On a monthly basis, producer prices dropped for the first time in ten months in December.
Prices fell 0.4 percent month-on-month, in contrast to November’s 0.1 percent increase. Economists had expected producer prices to edge up 0.1 percent.
The price indices of all main industrial groups increased in December compared with the previous year. Prices of intermediate goods and durable goods rose 1.9 percent each.
Capital goods prices increased 1.4 percent and those of non-durable consumer goods grew 0.5 percent. Energy prices rose 6.9 percent.
In 2018, producer prices for industrial products rose an annual average 2.6 percent, which was slower than the 2.7 percent increase in 2017.