BERLIN (Reuters) – Producer prices in Germany rose more than expected in January year on year, but the slowdown observed over the past four months supports the prospect of a deceleration in inflation in Europe’s largest economy.
The producer price index rose last month by 17.8% year on year, the Federal Institute of Statistics announced on Friday, while economists expected a smaller increase, to 16.4%. .
On a monthly basis, these prices fell by 1.0%, against a consensus established at -1.6%.
Energy prices were largely responsible for the year-over-year rise as they jumped 32.9% year-on-year.
The January data is preliminary and should be revised, as it does not take into account retroactive government aid to households and businesses to reduce gas and electricity bills.
The revised producer price figures for the first two months of the year will be communicated when the preliminary statistical data is published in March.
(Report Miranda Murray and Maria Martinez; Claude Chendjou, edited by Kate Entringer)
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