German producer prices fell 11% in Oct

A cargo ship is seen on river Main in front of the skyline during a summer evening in Frankfurt, Germany, Aug 13, 2023. REUTERS/Kai Pfaffenbach/File photo

BERLIN  – German producer prices fell in line with expectations in October, the federal statistics office said on Monday, continuing a downward trend after a record fall in September.

Compared with October 2022, prices were down 11 percent, which had also been the expectations of analysts polled by Reuters.

The office pointed out the 27.9 percent yearly fall in energy prices as the main reason for the decline in producer prices.

With energy prices excluded, prices were 0.2 percent higher than in October 2022, according to the office.

Compared with September, producer prices fell by 0.1 percent, it said. The office publishes more detailed data on its website.