Germany's producer prices for industrial products decline in April

The primary factor contributing to the YoY decline in producer prices was the continued decrease in energy prices. In April 2024, energy prices were 8.2 per cent lower than in April 2023 and experienced a marginal drop of 0.1 per cent compared to March 2024. The significant reduction in natural gas and electricity prices had the most substantial impact on the overall decrease in energy prices.

Excluding energy prices, producer prices in April 2024 were 0.6 per cent lower than in April 2023, but 0.3 per cent higher compared to March 2024. Intermediate goods prices also saw a decrease, being 3.1 per cent lower in April 2024 than a year earlier, though they increased by 0.3 per cent from the previous month.

In contrast, consumer goods prices exhibited a different trend. Non-durable consumer goods were 0.3 per cent more expensive in April 2024 compared to April 2023, with a MoM increase of 0.4 per cent. Durable consumer goods also saw a price rise of 1 per cent YoY and a slight increase of 0.1 per cent from March 2024.

Fibre2Fashion News Desk (DP)