Producer prices in Germany fell in October compared to the previous month – mainly because energy became cheaper.
(Photo: dpa)
Berlin In the past two years, the prices that producers pay for primary products such as raw materials and industrial goods have continued to rise. Until now.
In October, producer prices fell again for the first time since May 2020, by 4.2 percent compared to September. This was announced by the Federal Statistical Office on Monday. This was mainly due to falling energy prices, which fell by 10.4 percent compared to September.
“The surprisingly sharp drop in producer prices could be a harbinger that we have passed the peak of inflation,” says Düsseldorf economist Jens Südekum. Inflation could “say goodbye faster than many thought.” The inflation rate was ten percent in September and thus higher than ever before in reunified Germany.
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