Producer prices down 4.1% in Germany last month

ISTANBUL

Germany's annual producer inflation was at minus 4.1% in February, the federal statistical bureau Destatis revealed on Wednesday.

In February, lower energy prices continued to be the main reason for the year-on-year decline in producer prices, the bureau noted.

Energy prices last month were down 10.1% from February 2023 in the country.

"Intermediate goods were also less expensive than in February 2023, whereas consumer and capital goods were more expensive," it added.

Intermediate goods prices fell by 3.8% in February 2024 on a yearly basis.

Meanwhile, the prices of non-durable consumer goods rose by 0.2% in February 2024 compared with February 2023.

On a monthly basis, producer prices were also down by 0.4%.

Compared with January, energy prices were down 1.2% in February 2024.