Producer prices in Germany experienced an accelerated increase in December, predominantly driven by a rise in capital goods prices, according to data released by Destatis on Monday.
The producer price index (PPI) demonstrated an annual growth of 0.8 percent, following a modest 0.1 percent increase in November, marking the second consecutive month of rising prices.
The annual uptick in the PPI is primarily attributed to a 1.8 percent increase in capital goods prices. There was also a noticeable increase in the cost of consumer goods, durable goods, and intermediate goods compared to the same period last year, whereas energy prices fell.
Specifically, consumer goods prices saw a 2.6 percent increase, and durable consumer goods prices rose by 1.0 percent. Prices of intermediate goods rose slightly by 0.1 percent. However, energy prices decreased by 0.2 percent.
Excluding energy, producer prices registered a 1.2 percent increase in December year-on-year and remained stable in comparison to November.
On a month-to-month basis, producer prices dipped slightly by 0.1 percent, reversing a 0.5 percent increase observed in November. Forecasts had predicted a 0.3 percent rise in December.
For the year 2024, on average, producer prices were 1.8 percent lower compared to the previous year, contrasting with a 0.2 percent increase in 2023.
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