Germany’s wholesale prices fall for 18th month in October

Wholesale prices in Germany have decreased at an annualized rate of 0.8% in October, data by the Federal Statistical Office showed.

The latter has been a slowdown from a 1.6% drop in the prior month.

October marked the 18th consecutive month of decreasing producer prices, but the pace has been the softest since July.

Last month, prices went down for:

– mineral oil products (-11.5% YoY);
– iron, steel and ferrous semi-finished metal products (-5.3% YoY);
– computers and peripheral equipment (-4.9% YoY);
– chemical products (-4.6% YoY).

In the meantime, prices went up for:

– coffee, tea, cocoa and spices (26% YoY);
– non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products (24% YoY);
– sugar, confectionery and bakery products (9.9% YoY);
– waste and scrap (8.3% YoY);
– metals and metal ores (6.2% YoY).

The Euro was last 0.39% firmer on the day against the US Dollar, with the EUR/USD currency pair trading at 1.0570.