German producer prices fall more than expected in March

German producer prices were flat on the month in March versus economists' expectations for a 0.2% increase, according to data from Destatis.

Compared with the same month last year, prices were down 3.1%, which was steeper than the 2.9% drop pencilled in by economists.

Energy prices were a big contributor, down 9.2% compared with March last year, with prices of intermediate goods down 2.3% and price of non-durable goods 0.3% lower.

However, prices of capital goods rose by 0.6% and of durable consumer goods by 1.4%.