Producer prices in Germany tumbled 8.6% on an annual basis in December 2023, data from the country's statistical office Destatis showed on Friday. The index saw a monthly decline of 1.2%.
In December 2023, energy prices nosedived 23.5% compared to December 2022 and fell 3.7% compared to November 2023. Prices of intermediate goods declined by 3.7% from the same timeframe a year ago and remained unchanged from the prior month. Meanwhile, prices of capital goods increased 3.9% annually, while being unchanged month-on-month.
An annual rise of 3% and a monthly decrease of 0.1% were observed in the prices of durable consumer goods. Non-durable consumer goods prices were 3.2% higher year-over-year but stayed unchanged in comparison to the previous month.
