German producer prices see sharp drop in November

German producer prices posted their sharpest annual drop in nearly six years in November, according to data released by Destatis.

Producer prices slipped 0.2% on the month and 2.5% compared with the corresponding month last year.

Economists had expected a 0.2% decline from last month and a 2.4% fall on the year.

Energy prices were the main drag, down 7.1% on last year and 0.2% from October.