Germany: first drop in producer prices after more than two years

Germany: first drop in producer prices after more than two years

New signs of inflation slowdown in Europe. Germany recorded the first drop in producer prices after more than two years (May 2020). The Federal Statistical Office underlines this, Destatis, in a note. In fact, producer prices in October fell by 4.2% compared to September and grew on an annual basis by 34.5%. The annual figure is slowing down: both in August and September the annual growth rate of producer prices was 45.8 per cent.

According to Destatis, the increase in producer prices has therefore slowed down. In August and September they had recorded a rate of variation, compared to the same month of the previous year, of +45.8%”. It is – notes Destatis – «the first drop in prices compared to the previous month since May 2020 (-0.4% compared to April 2020)”.

Seangli analogues of inflation cooling they are also noticed overseas. In October, in the United States, prices increased compared to the previous month by 0.4%, against expectations for +0.6%. The “core” data, i.e. the one excluding the food and energy prices component, grew by 0.3%, against expectations for +0.5%. On an annual basis, the general data recorded a +7.7%, with expectations at 7.9%. The “core” figure grew by 6.3%, with expectations for +6.5%.

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