German producer prices up 0.7% in February
Producer prices in Germany grew 0.7% in February compared to the previous month to meet estimates, the Federal Statistical Office said in its report published on Friday. On an annual basis, the figure increased less-than-expected 1.9%.
Prices of intermediate goods climbed 3.8% compared to February last year, marking the highest annual price increase since November 2017, as well as 1.1% against January. Prices of durable consumer goods advanced 1.4% year-on-year, and capital goods such as machines and vehicles, 0.8%.
Energy prices as a whole rose 3.7% on a yearly basis and 1.3% month-over-month. Lastly, prices of non-durable consumer goods declined 2% compared to January 2020.
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