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German producer price index for industrial products rises year-on-year in October

The German producer price index for industrial products rose slightly on a year-on-year basis in October, whereas it dropped a bit on a sequential basis.

According to the Federal Statistical Office (Destatis), the producer price index rose 3.3 year-on-year in the month, a slight rise from 3.2 percent in September. Sequentially, the overall index rose 0.3 percent in October, slightly slowdown from 0.5 percent in the prior month.

The price indices of all main industrial groups rose on a year-on-year basis. Energy prices rose 9.4 percent, though the development of prices of the different energy carriers diverged. Prices of petroleum products were up 19.2 percent, whereas prices of natural gas were up 9.2 percent, whereas electricity prices rose 9.1 percent.

Intermediate goods prices were up 2.3 percent, whereas prices of durable consumer goods and of capital goods were up 1.7 percent and 1.4 percent, respectively. Prices of non-durable consumer goods rose 0.2 percent.

The overall index disregarding energy was up 1.6 percent year-on-year in October, unchanged compared with September 2018.

At 12:00 GMT the FxWirePro's Hourly Strength Index of Euro was slightly neutral at 29.7417, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -43.5231. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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