Germany's producer prices down for 10th consecutive month in April

ISTANBUL

Germany's producer prices decreased for the 10th consecutive month in April, official figures showed on Tuesday.

The prices declined by 3.3%, according to the federal statistical authority Destatis.

It said that lower energy prices were the main reason for the year-on-year decline in producer prices. Energy prices in April 2024 were down 8.2% from April 2023.


Lower prices for natural gas and electricity had the biggest influence on the rate of change for energy, Destatis said. Gas prices declined by 18%, while electricity cost 14% less.

"Intermediate goods were also less expensive than in April 2023, whereas higher prices had to be paid for consumer and capital goods," it added.


Intermediate goods prices dropped by 3.1% in April 2024 compared to a year earlier.

Meanwhile, the producer prices were up by 0.2% in April on a monthly basis.