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German producer prices rise slower than expected in August

Annual producer prices in Germany rose at a slower rate than anticipated in August amid as energy and intermediate goods prices declined, data from the Federal Statistical Office showed.

Producer prices of industrial products edged 0.3% higher last month compared with the year-ago period, following a 1.1% annual increase in July. The consensus estimate of economists polled by Econoday was for an annual rise of 0.6%.

Energy prices inched down 0.3%, while intermediate goods prices fell 0.9%. Prices of capital, durable consumer and nondurable consumer goods advanced.

On a monthly basis, producer prices dropped 0.5% in August, compared to a 0.1% uptick in the prior month and the Econoday consensus estimate of a 0.2% monthly dip.