German producer prices fall more than expected in April

By Thomson Reuters May 21, 2024 | 1:11 AM

(Reuters) – German producer prices fell more than expected in April due mainly to lower energy prices, the federal statistics office reported on Tuesday.

Producer prices decreased by 3.3% on the year. Analysts polled by Reuters had expected a 3.1% decline.

Energy prices were down 8.2% year-on-year in April, due mainly to lower prices for natural gas and electricity, the statistics office said.

Excluding energy prices, producer prices were 0.6% lower than in April 2023.

Intermediate goods were 3.1% less expensive than in April 2023, whereas higher prices had to be paid for consumer and capital goods.

(Reporting by Chiara Holzhaeuser and Maria Martinez, Editing by Friederike Heine)