Producer prices in Germany declined 0.7% on an annual basis in November, following a 0.6% fall in October, the country's Federal Statistical Office reported.

The consensus estimate of economists polled by Econoday was for a 0.8% decrease in November.

Energy prices fell 3.4% year over year in November while those of intermediate goods slipped 2.1%.

Prices of capital goods rose 1.4% and those of durable and nondurable consumer goods increased 1.3% and 2.6%, respectively.

Excluding energy, overall producer prices ticked up 0.2% annually in November.