Producer prices in Germany in December fell by 0.4% in monthly terms after falling by 3.9% in November, according to data from the Federal Statistical Office (Destatis). Prices declined for the third consecutive month, before which the indicator showed continuous growth since May 2020.

On an annualized basis, producer price growth slowed to 21.6% from 28.2% in November.

Energy costs in Germany rose 41.9% on-year last month after increasing 65.8% in November. Including natural gas rose in price by 52% (92.6% increase a month earlier), electricity – by 46.8%.

The increase in the PPI index excluding energy costs amounted to 12% year-on-year.

Producer prices for intermediate goods increased by 12.3%, including metals – by 10.8%. The growth in the cost of consumer durables amounted to 11.9%.

Nondurable consumer goods prices were 18.1% higher in December than in December 2021. Food products rose in price by 23.5%.