# German producer prices fall more than expected in September
Published: 2024-10-21
Category: Headlines
Category URL: https://assetdigest.com/category/headlines/
Meta Title: German Producer Prices Drop 1.4% in September
Meta Description: German producer prices fell 1.4% in September, driven by lower energy costs. This marks the 15th consecutive monthly decline, exceeding analyst expectations.
URL: https://assetdigest.com/german-producer-prices-fall-more-than-expected-in-september/

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BERLIN (Reuters) – German producer prices fell more than expected in September, declining 1.4% year on year, due mainly to significantly lower energy prices, the federal statistics office said on Monday.

Analysts polled by Reuters had expected a 1.0% decline.

The main reason for the dip was lower energy prices, which were 6.6% lower in September compared with the same month last year. Mineral oil products in particular were down 14.4%.

Excluding energy prices, producer prices were up 1.2%, with higher costs for capital, consumer and intermediate goods.

September marked the 15th decline in a row in Germany’s producer prices index, considered a key inflation indicator.

EU-harmonized German inflation eased slightly, to 1.8% in September from 2.0% in August, the office confirmed this month.

On the month, September prices fell a more-than-expected 0.5%. Analysts had forecast a 0.2% decrease.

(Reporting by Rene Wagner and Miranda Murray in Berlin, and Tristan Veyet, Marleen Kaesebier in Gdansk; Editing by Toby Chopra)


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