German producer prices rise more than expected in November

Producer prices in Germany rose more than expected last month, according to figures releases by Destatis.

Producer prices were up 0.3% in November from October and 0.1% higher on the year. The year-on-year change was the first positive annual rate of change since June 2013.

Economists had been expecting a 0.1% increase on the month and a 0.2% drop on the year.

Excluding energy, prices were up 0.3% on the month and 0.8% on the year. Energy prices rose 0.3% in November from the previous month but fell 1.7% from November last year.