German March producer prices fall 2.9% year on year

German industrial producer prices fell 2.9% in March year on year, driven by lower energy prices, the federal statistics agency said on Friday.

Prices rose by 0.2% compared with February, it added. Energy prices in March were down 7% annually and unchanged versus February 2024.

Across all customer groups, gas prices declined by 15.4% year on year, while electricity cost 12.6% less on the same basis.

Reporting by Frank Prenesti for Sharecast.com