Germany producer prices down slightly in September

According to the report from Federal Statistical Office, in September 2019 the index of producer prices for industrial products decreased by 0.1% compared with the corresponding month of the preceding year. Economists had expected a 0.3% decrease. In August 2019 the annual rate of change all over had been +0.3%, as reported by the Federal Statistical Office. Compared with the preceding month August 2019 the overall index rose slightly by 0.1% in September 2019 (-0.5% in August 2019).

Energy prices as a whole decreased by 1.9% (+0.4% compared to August 2019). On an annual basis prices of natural gas (distribution) decreased by 6.8% and prices of petroleum products by 7.6% whereas prices of electricity rose by 3.7%. The overall index disregarding energy was 0.5% up on September 2018 and decreased slightly by 0.1% compared to August 2019.

Prices of intermediate goods decreased by 1.0% compared to September 2018 (-0.3% on August 2019). Prices of capital goods increased by 1.5%, prices of durable consumer goods were up 1.4%. Prices of non-durable consumer goods increased by 1.8% compared to September 2018 (+0.2% on August 2019). Food prices were up 2.2%.