Germany's producer prices unexpectedly fall in March

ISTANBUL

Producer prices fell by 0.2% in Germany year-on-year in March, missing forecasts of a 0.4% rise, the federal statistical office Destatis released on Thursday.

The figure followed a downwardly revised rise of 0.5% in the previous month.

Lower energy prices were the main reason for the 0.2% year-on-year decline in producer prices, Destatis said.

Energy-excluded producer prices in March rose by 1.4% on a yearly basis, while energy prices in March fell by 3.6% year-on-year.

Non-durable and durable consumer goods, capital goods and intermediate goods were more expensive than in the same month of the previous year.

Capital goods prices in March were 1.9% higher than a year earlier, non-durable consumer goods prices rose 2.6%, and durable consumer goods prices went up 1.3%.

Meanwhile, producer prices dropped by 0.7% on a monthly basis in March.

The markets estimated that the prices would fall by 0.1% on a monthly basis for the month.