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Germany: producer prices in October 2023 -11.0%

Development is still mainly attributable to a base effect

20 November, 14:18

(ANSA) - BELGRADE, NOV 20 - The German Federal Statistical Office (Destatis) reported today that producer prices for industrial products were 11.0% lower in October 2023 than in October 2022. The year-on-year change rate in September 2023 was -14.7%, the largest drop compared to the same month a year earlier since data collection began in 1949. The growth is still primarily due to a base effect caused by the previous year's extremely high price level. (ANSA).

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