German producer prices rise by less than forecast
Producer prices across Germany rose by less than expected in February, official data showed on Thursday.
According to Destatis, the Federal Statistical Office, producer prices of industrial producers were 0.7% higher year-on-year in February.
That was higher than January’s 0.5% rise, but below the 1% increase analysts had been expecting.
Month-on-month, prices fell 0.2%, also below forecasts for a 0.1% uptick.
Driving the year-on-year rise were higher capital goods prices, which grew 2.0% in February.
Non-durable consumer goods were also more expensive, up 3%, while durable consumer goods rose 1.2% and intermediate goods pushed up 0.3%. However, energy prices fell 0.8%, or by 1% month-on-month.
Lower prices for natural gas (distribution) had the biggest influence on the year-on-year rate change for energy, Destatis noted.
National gas prices fell 2.7%, while mineral oil product prices were 1.7% lower.
In contrast, electricity cost 1% more than in February 2024.