Data released by the Federal Statistical Office on Monday showed that producer prices in Germany fell more than expected in September from August.
Germany, producer prices fall in September
Producer prices fell 0.5% month-on-month in September after rising 0.2% in August from July. This was a faster pace of monthly deflation than the 0.2% decline expected by market consensus cited by FXStreet.
Producer prices drop 1.4% in September, driven by falling energy costs
On a year-over-year basis, producer prices fell 1.4% in September, accelerating from a 0.8% annual decline in August.
Energy prices, in particular, were 6.6% lower year-on-year in September, and this deflation accelerated from a 4.6% decline in August.
On a month-over-month basis, energy prices were 1.5% cheaper in September after rising 0.8% in August.
