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German Producer Prices Unexpectedly Rise In December

Germany’s producer prices rose for the first time in eleven months in December, defying expectations for further decline, data from Destatis showed on Wednesday.

The producer price index rose 0.2 percent year-on-year in December, after a 0.5 percent decrease in November. Economists had forecast a 0.3 percent fall.

Excluding energy, producer prices rose 0.3 percent annually in December. Energy prices fell 0.1 percent.

Among other components, durable consumer goods prices gained 1.6 percent annually in December. Prices for capital goods and intermediate goods surged 0.9 percent and 0.8 percent, respectively.

Meanwhile, prices of non-durable consumer goods fell 1.8 percent.

On a monthly basis, producer prices rose 0.8 percent in December, following a 0.2 percent increase in the previous month. Economists had forecast a 0.3 percent increase.

On an annual average, producer prices fell 1.0 percent in 2020.

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