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Annual German producer prices decline for 4th consecutive month

Producer prices in Germany declined 0.2% on an annual basis in December 2019, in line with the consensus estimate of economists polled by Econoday, following a 0.7% fall in the prior month, the country's Federal Statistical Office reported.

This marked an annual decline in producer prices for the fourth month in a row.

Energy prices fell 2.4% year over year in December 2019 and prices of intermediate goods declined 1.8%. Prices of capital goods rose 1.4% and those of durable and nondurable consumer goods increased 1.3% and 3.6%, respectively.

Excluding energy, overall producer prices were up 0.4% annually in December 2019.

On a monthly basis, the producer price index ticked up 0.1%, compared to expectations for 0.2% growth in prices.

In 2019, the index advanced 1.1% on an annual average compared with the prior year.