Germany's October PPI Rises 0.1% Month-on-Month, Exceeding Expectations (Update)

(Seoul=Yonhap Infomax) Kyung Pyo Hong – Germany's producer price index (PPI) for last month rose more than market expectations.

On the 20th (local time), the Federal Statistical Office of Germany (Destatis) announced that the PPI for October increased by 0.1% month-on-month.

The market had anticipated a flat reading (0%).

On a year-on-year basis, Germany's PPI fell 1.8%, which was also above market expectations.

The Federal Statistical Office stated, "The main driver of the decline in producer prices was lower energy prices," adding, "Prices for intermediate goods also fell year-on-year."

Energy prices dropped 7.5% year-on-year, while rising 0.4% from September.

Excluding energy, last month's PPI rose 0.8% year-on-year and declined 0.1% month-on-month.

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kphong@yna.co.kr

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