German producer price index fell more than forecast in November

According to the report from Federal Statistical Office, in November 2019 the index of producer prices for industrial products decreased by 0.7% compared with the corresponding month of the preceding year. Economists had expected a 0.6% decrease. In October 2019 the annual rate of change all over had been -0.6%. Compared with the preceding month October 2019 the overall index remained unchanged in November 2019 (-0.2% in October 2019).

Energy prices as a whole decreased by 3.4% (+0.2% compared to October 2019). On an annual basis prices of petroleum products decreased by 12.2% and prices of natural gas (distribution) by 7.1% whereas prices of electricity rose by 2.2%.

The overall index disregarding energy was 0.2% up on November 2018 and decreased slightly by 0.1% compared to October 2019.

Prices of intermediate goods decreased by 2.1% compared to November 2018. Compared with October 2019 prices of intermediate goods fell by 0.3% in November 2019. Prices of durable consumer goods were up 1.3%, prices of capital goods increased by 1.4%. Prices of non-durable consumer goods increased by 2.6% compared to November 2018 (+0.2% on October 2019). Food prices were up 3.5% on November 2018.